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Senators Lummis and Moreno are calling on Treasury to review Biden-era tax that could penalize U.S. digital asset companies.
Senators Lummis and Moreno Call on Treasury to Review Digital Asset Tax Rules US Senators Cynthia Lummis and Alex Moreno have called on the US Treasury Department to address a Biden-era tax rule that could potentially have an adverse impact on digital asset companies in the United States. The issue of taxation of digital assets is becoming increasingly important, especially in an economic environment that promotes digital innovation and financial technologies. The senators argue that the existing tax framework could potentially hinder investment in this emerging sector and threaten the competitiveness of U.S. companies in the global marketplace. Lummis and Moreno...
Senators Lummis and Moreno are calling on Treasury to review Biden-era tax that could penalize U.S. digital asset companies.
Senators Lummis and Moreno call on Treasury to review tax regulations for digital assets
US Senators Cynthia Lummis and Alex Moreno have called on the US Treasury Department to address a Biden-era tax regime that could potentially have an adverse impact on digital asset companies in the United States.
The issue of taxation of digital assets is becoming increasingly important, especially in an economic environment that promotes digital innovation and financial technologies. The senators argue that the existing tax framework could potentially hinder investment in this emerging sector and threaten the competitiveness of U.S. companies in the global marketplace.
Lummis and Moreno emphasize the urgency of reviewing these tax regimes to create an enabling environment for digital assets and their businesses. By adjusting existing tax rules, the U.S. Treasury Department could help strengthen the industry's innovation and ensure that the United States remains a leader in digital technologies and financial services.
Given the rapid developments in the digital asset space, it is critical that tax policy keeps pace with the needs of an ever-changing economic landscape. The call from Lummis and Moreno could therefore have far-reaching implications for the future position of the USA in global competition for digital technologies.