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The Week In Crypto Policy: Bitcoin & Taxes
Key Insights
- Rep. Matt Gaetz (R-FL) introduced a bill to allow individuals to pay taxes with bitcoin.
- 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 reporting 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.
- There was no mention of crypto at last night's Presidential debate.
Rep. Matt Gaetz Intro's New Tax Bill
On Tuesday, Rep. Matt Gaetz (R-FL) introduced a bill that would amend the tax code to allow individuals to pay certain federal taxes in bitcoin.
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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.