Lates News

According to a recent legislative proposal put forward by the House Ways and Means Committee of the United States, taxpayers will be able to combine the total gains and losses from digital assets when filing taxes and can defer the time of including newly generated tokens as income until they are sold. Holders of widely traded digital assets will be able to aggregate total gains or losses generated throughout the year when filing taxes without the need to calculate and pay taxes on each individual transaction. Cryptocurrency brokers and professional traders will be able to use the "Mark-to-market" tax system applicable to securities traders, which will tax unrealized gains and losses annually.