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Crypto Industry Braces for Tax Reporting Requirements (Podcast)

Aug. 13, 2021, 8:46 AM

The Senate-passed infrastructure bill includes contentious cryptocurrency tax reporting requirements that the industry is hoping to change when the bill is considered by the House.

The requirements would apply to brokers, such as U.S. exchanges, but the industry says the current language is too broad and would hit intermediaries, like software developers and miners, who don’t have access to the information they would be required to report.

On this week’s episode of our podcast, Talking Tax, senior reporter Allyson Versprille talks to Denise Hintzke, a leader in Deloitte’s Global Information Reporting practice. They discuss the impact the reporting requirements would have on the industry and how companies are preparing for the possible changes. Listen to the episode here.

Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

To contact the reporter on this story: Allyson Versprille in Washington at aversprille@bloombergtax.com

To contact the editor responsible for this story: Patrick Ambrosio at pambrosio@bloombergtax.com

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