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FollowingCryptocurrency Tax Act: Have the mining and pledge clauses been deleted?
CoinGape and Bitcoin.com News both reported on the House Ways and Means Committee's textual revision of the Digital Assets Tax Uncertainty Act on September 16, but the two sides disagreed on whether mining and pledge tax incentives have been removed.
Consensus content
The House Ways and Means Committee has scheduled a textual amendment to the Digital Assets Tax Uncertainty Act on September 16. The bill contains wash-out/substantial sale rules (H.R.) for digital assets. 9172）。
Congressman Steven Horsford is regarded as a key Democratic figure whose support or concerns mainly concern the tax treatment of mining and pledges. The amendment coincides with the House Financial Services Committee's vote on the Strategic Bitcoin Reserve Act and follows the Senate's closing debate vote on the CLARITY Act.
Reporting Differences
Before the September 16 revision, the Mining/Pledge Tax Deferral Clause (H.R. Status of
CoinGape View:
Republicans have removed H.R. from the tax bill package. 9175 Mining and Pledge Tax Clarification Act. The bill specifically contains relevant provisions on taxation of mining and pledge rewards.
Bitcoin.com News Views:
Punchbowl News reported on September 13 that Republicans on the committee are strongly considering removing mining and pledge related provisions, describing the issue as the biggest focus of tension with Horsford. Horsford is one of the most influential cryptocurrency supporters on the Ways and Means Committee and a key swing vote. In addition, there is speculation that current options include retaining the deferred policy, completely deleting it or setting a five-year cap.
How to verify the truth
The final confirmation method should be to check the final text of the Digital Asset Tax Uncertainty Act from the House Ways and Means Committee's amendment notice on September 16, or the committee's official revision record.
Interpretation and Recommendations
The September 16 revision date and the washout terms (H.R.) should be revised 9172) is regarded as an established fact; as for whether the mining/pledge deferral policy has been deleted or is still under negotiation, it is not yet conclusive. The actual text of the commission's bill or the results of its amendment should not be regarded as a given fact until it has been verified.
