Some clarity for crypto miners. The U.S. Treasury indicates that it plans to exempt miners, stakers and other market participants from rules that would require brokers to share data on their clients’ transactions with the IRS.
The cryptocurrency industry in the United States is about to score a major legal win as the United States Treasury Department plans to spare crypto miners and other “ancillary parties” from tax reporting rules.
In a letter to a group of senators on Friday, the U.S. Treasury indicated that it plans to exempt crypto miners, stakers and other market participants from rules that would require crypto brokers to share data on their clients’ transactions with the Internal Revenue Service. “Appreciate the Treasury Department affirming that crypto miners, stakers and those who sell hardware and software for wallets are not subject to tax reporting obligations,” Senator Rob Portman said, announcing the news on Twitter.
Appreciate the Treasury Department affirming that crypto miners, stakers and those who sell hardware and software for wallets are not subject to tax reporting obligations.
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