Senate Finance Committee Takes Up Taxation of Digital Assets

On 1 October the Senate Finance Committee (SFC) held a hearing to consider the tax treatment of digital assets, “Examining the Taxation of Digital Assets.” In his opening statement, Chairman Mike Crapo (R-ID) highlighted the significance of the hearing, saying “In recent years, digital assets have emerged to become an important part of our global financial ecosystem. Today, we will discuss how our tax code can provide a clear framework to ensure American leadership in this innovative industry.”…
By: K&L Gates LLP