Trade Haven Hub - Investing and Stock News
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
No Result
View All Result
Trade Haven Hub - Investing and Stock News
No Result
View All Result
Home Crypto News

US Senators Push Treasury to Correct Crypto Tax on Unrealized Gains

by
May 14, 2025
in Crypto News
0
US Senators Push Treasury to Correct Crypto Tax on Unrealized Gains
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Senators Cynthia Lummis and Bernie Moreno have urged the US Treasury to address an unintended tax burden caused by a Joe Biden-era tax on corporations, which could hurt digital asset companies.

In a letter sent to Treasury Secretary Scott Bessent, the senators wrote that this tax could make American businesses less competitive than foreign companies.

The corporate alternative minimum tax (CAMT), which Biden signed into law as part of the Inflation Reduction Act, imposes a 15% minimum tax on corporate profits.

Our edge in digital finance is at risk if U.S. companies are taxed more than foreign competitors. @berniemoreno & I urged the @USTreasury to lift an unintended tax burden on U.S. digital asset companies. To lead the world in digital assets, we need a level playing field. pic.twitter.com/V7pwAUqRc4

— Senator Cynthia Lummis (@SenLummis) May 13, 2025

Current Tax Structure Could Stifle US Growth In Digital Asset Industry, Senators Warn

The tax is based on adjusted financial statement income (AFSI). This includes the fair value of digital assets. As a result, corporations with large digital asset holdings could be taxed on asset appreciation. This applies even if they haven’t sold the assets.

While this accounting method may apply to certain assets, it creates a challenge for companies in the digital asset sector.

The senators explained that the new rule could harm the US digital asset industry, as it creates an unfair tax burden on American companies.

Senators Push Treasury To Protect US Digital Asset Industry From Unfair Taxes

Under the new standard, entities holding appreciated digital assets would pay taxes on unrealized gains. This could force companies to sell assets just to cover tax liabilities. As a result, their ability to grow and innovate would be limited.

Lummis and Moreno proposed that the Treasury use its regulatory authority to adjust the tax code to exclude unrealized digital asset gains from the AFSI calculation.

By doing so, the senators believe it will help ensure that US digital asset firms remain competitive. Foreign competitors are not subject to the same accounting rules. Additionally, this adjustment would allow US companies to retain their digital asset investments. They would no longer be forced to sell them just to pay taxes.

The proposed adjustments would align U.S. tax policy with the reality of digital asset valuation. Gains are often only realized upon sale. Without these adjustments, American firms may be forced to pay taxes on theoretical profits.

The post US Senators Push Treasury to Correct Crypto Tax on Unrealized Gains appeared first on Cryptonews.

Previous Post

Thailand to Issue $150M Digital Bond Tokens, Opening Access to Retail Investors

Next Post

Gold Price Drops Over US$100 as US and China Agree to Tariff Pause

Next Post
Gold Price Drops Over US$100 as US and China Agree to Tariff Pause

Gold Price Drops Over US$100 as US and China Agree to Tariff Pause

  • Trending
  • Comments
  • Latest
Murchison South Increases to 67koz Gold Across Two Pits

Murchison South Increases to 67koz Gold Across Two Pits

May 13, 2025
Bitcoin Records Highest Weekly Close as Price Nears All-Time High

Bitcoin Records Highest Weekly Close as Price Nears All-Time High

May 19, 2025
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

March 20, 2025
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 22, 2025
Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Air Direct Capture – Reducing CO2 from the Atmosphere

Air Direct Capture – Reducing CO2 from the Atmosphere

0
Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

June 15, 2025
Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

June 14, 2025
Israel strikes at the heart of Iran’s nuclear ambitions in Isfahan offensive

Israel strikes at the heart of Iran’s nuclear ambitions in Isfahan offensive

June 14, 2025
XRP Price Prediction: Why XRP’s Realized Capital Surge Outperforms Solana’s Price Action

XRP Price Prediction: Why XRP’s Realized Capital Surge Outperforms Solana’s Price Action

June 14, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

    Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

    June 15, 2025
    Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

    Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

    June 14, 2025
    Israel strikes at the heart of Iran’s nuclear ambitions in Isfahan offensive

    Israel strikes at the heart of Iran’s nuclear ambitions in Isfahan offensive

    June 14, 2025
    XRP Price Prediction: Why XRP’s Realized Capital Surge Outperforms Solana’s Price Action

    XRP Price Prediction: Why XRP’s Realized Capital Surge Outperforms Solana’s Price Action

    June 14, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 tradehavenhub.com | All Rights Reserved

    No Result
    View All Result
    • Investment Tips
    • Trade Tips
    • Crypto News
    • Economy News
    • Stock Market

    Copyright © 2025 tradehavenhub.com | All Rights Reserved