A leading industry group is taking legal action against a state tax law that singles out blockchain-based assets for special treatment. The Digital Chamber alleges the Digital Asset Tax Act in Illinois imposes a 0.2% […]
A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. The Digital Chamber alleged that Illinois’ Digital Asset Tax Act violated both the […]
Key Takeaways On July 1, 2026, SARS published a draft guide establishing foundational tax rules for crypto assets. Up to 6 million local traders face tight SARS audits and tax rates ranging from 18% to […]
Key Takeaways Sen. Steve Daines said the Senate could release a crypto tax bill by fall 2026, with a framework already drafted. The Senate plan is “more similar than not” to the House Ways and […]
Key Takeaways Illinois’ Digital Asset Tax Act imposes a 0.2% levy on crypto transfers effective Jan. 1, 2027, regardless of profit. The tax targets brokers earning over $100,000 from Illinois users and is projected to […]
Key Takeaways Proposed legislation would extend wash sale restrictions to many cryptocurrency transactions. Investors could face limits on claiming losses after rapid asset repurchases. Exemptions cover qualified U.S. dollar stablecoins and digital assets acquired through […]
Key Takeaways Lawmakers examined eight digital asset tax proposals covering payments, donations, mining, staking, and compliance. Several proposals would reduce reporting requirements for routine digital asset transactions and stablecoin payments. Other measures address staking rewards, […]
A package of several crypto tax bills may not be ready yet for prime time, as a U.S. House Ways and Means Committee hearing revealed potentially significant questions from lawmakers that suggested the panel hasn’t […]
A set of seven crypto tax bills are being circulated in advance of a hearing of the U.S. House Ways and Means committee next week, with each of the legislative drafts tackling its own narrow […]
The Joe Biden administration has proposed a 30% tax on the electricity used for cryptocurrency mining operations in its budget for 2025. The computers that secure cryptocurrencies such as Bitcoin consume large amounts of power. […]
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