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US Treasury Department Officials Considering Domestic Cryptocurrency Tax Regulations
Summary: US Treasury Department officials are evaluating a risk-based approach to cryptocurrency tax regulations versus a model focused on tax liabilities, as reported by Bloomberg. Erika Nijenhuis, senior counsel at Treasury’s office of tax policy stated during the OECD’s 2020 Global Blockchain Policy Forum that the trade-offs each model would bring to crypto tax rules are the ...
US Treasury Department officials are evaluating a risk-based approach to cryptocurrency tax regulations versus a model focused on tax liabilities, as reported by Bloomberg.
Erika Nijenhuis, senior counsel at Treasury’s office of tax policy stated during the OECD’s 2020 Global Blockchain Policy Forum that the trade-offs each model would bring to crypto tax rules are the top considerations.
She added that regulators are also considering the burden tax regulations places on cryptocurrency parties, like exchanges, and the range of benefits, like enhancing compliance, each approach provides.
By Emily Mason
Tags: Bitcoin,BTC,Regulation,US Treasury Department
Link: US Treasury Department Officials Considering Domestic Cryptocurrency Tax Regulations [Copy]
