The Senate financing committee said on September 24 that it would hold an audience next week on how digital assets should be taxed while industry leaders continue to pressure for clear federal rules.
Committee president Mike Crapo announced that the session, entitled “Examination of the taxation of digital assets”, will be held on October 1.
According to the opinion, the vice-president of Coinbase of the Lawrence Zlatkin tax and the director of policies at the corner Center Jason Somensatto should testify.
The Committee had previously requested public comments on how existing tax laws apply to cryptocurrencies and if new legislation is necessary.
The upcoming audience should rely on the recommendations of the White House digital working group, which has urged legislators to recognize crypto as a separate asset class governed by tailor -made tax rules for raw materials and securities.
Senator Pro-Crypto, Cynthia Lummis, has launched her own proposal, including minimis exemption for digital asset transactions below $ 300 and reduces tax rates on Bitcoin payments as part of a wider thrust to remove obstacles to daily use.
Developments are involved in the midst of a broader legislative pushing for legislators to establish a complete regulatory framework for Stablecoins and the wider cryptographic industry. However, the calendar of the Senate tax hearing remains uncertain.
The congress faces a deadline of September 30 to adopt a government financing measure, which could lead to a closure that would oblige the committee to postpone the audience. Political confrontation has already delayed a separate markup on legislation on the structure of the cryptographic market until later in October.
The audience of the Finance Committee will mark one of the most visible steps in the Trump administration to clarify how digital assets are taxed, a subject for a long time criticized by defenders as muddy in ambiguity.
