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The Week In Crypto Policy: Bitcoin & Taxes

Jun 28, 2024 ⋅  5 min read

Rep. Matt Gaetz (R-FL) introduced a bill to allow individuals to pay taxes with bitcoin, but it is unlikely it will gain enough traction to pass this Congress. Also on the tax front, industry groups filed comments on the IRS's proposed tax reporting form for digital asset brokers, primarily urging the IRS to narrow, clarify, and delay implementing the proposed requirements. Senator J.D. Vance (R-OH) is working on a crypto market structure bill that he plans to unveil in July, according to Politico's Eleanor Mueller. As for the Presidential debate, there was no mention of crypto, but perhaps the subject will come up at the next debate on September 10.

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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.

About the author

George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.