Congress Debates Whether Crypto Tax Relief Should Extend Beyond Stablecoins

Source: International Business Times

The industry has long argued that the IRS treats cryptocurrencies as property instead of currency. As a result, users may have to calculate capital gains or losses each time they spend crypto, trade tokens, or pay blockchain transaction fees. Getty Images Congress is weighing whether tax relief for digital assets should be limited to stablecoins or expanded to cover a broader range of cryptocurrency transactions, placing Bitcoin, staking rewards and on-chain activity at the center of a growing policy debate in Washington.