The Token Taxonomy Act presented by Representatives Warren Davidson and Darren Soto will help bitcoin and cryptocurrency get acceptance for massive adoption. Share your thought.
it probably won't pass. call me cynical, but it's a little
too friendly to crypto. tax exempt like-kind exchanges would be allowed, a $600 tax exemption on gains from spending coins, and exemption from all existing securities laws......it reads like a pipe dream, just too good to be true.
Exactly my thoughts, I would be very surprised if this came to pass in its current state.
Now, I would definitely think that they're going to try and tax it more and they're definitely not going to make it exempt from existing securities laws.