Digital Asset Bill Finalized as Crypto Sparks Interest: BGOV Tax

Bipartisan Digital Assets Tax Bill Incoming

House Ways and Means Committee members Steven Horsford (D-Nev.) and Max Miller (R-Ohio) finalized their bipartisan cryptocurrency tax legislation Tuesday, obtained by Bloomberg Tax, as Congress intensifies its broader focus on digital assets.

The bill keeps up momentum on the tax front as other committees also take up crypto-related legislation on aspects of regulation, such as market structure. The measure builds on a discussion draft the pair released in March, reflecting revisions in response to feedback from industry participants and lawmakers.

For instance, it moves away from setting a tax exemption threshold for ...