Summary
- U.S. Senator Cynthia Lummis said that the revision of 'virtual asset taxation regulations' is making progress.
- The bill includes a provision that 'virtual asset transactions under $300 are not taxed' and that 'digital asset lending is not subject to taxation.'
- The Senate Finance Committee said it will hold a hearing on October 1 titled 'Review of Digital Asset Taxation.'
On the 30th (local time), according to crypto-focused media The Block, U.S. Senator Cynthia Lummis said at the 'BTC in DC' event held in Washington, D.C., that revisions to virtual asset taxation regulations are making progress.
Senator Lummis has introduced a bill to modernize the tax treatment of digital assets, and the bill includes a provision that transactions in virtual assets under $300 are not taxed. It also specifies that digital asset lending is not subject to taxation.
Meanwhile, the Senate Finance Committee is scheduled to hold a hearing on October 1 (local time) on the subject of 'Review of Digital Asset Taxation.'
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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