The Unworkable Law: Why a 2021 Rule Is Causing a Tax Nightmare for the Crypto Industry

U.S. Senator Cynthia Lummis is urging Congress to revise current tax policies affecting Bitcoin and other digital assets, warning that the existing framework imposes unfair burdens on miners, developers, and decentralized finance (DeFi) participants. In a statement posted on X, the Wyoming lawmaker cited specific flaws in the classification and reporting standards for crypto-related activities, […] The post The Unworkable Law: Why a 2021 Rule Is Causing a Tax Nightmare for the Crypto Industry appeared first on Coin Edition.