Crypto Backers Ask Senate Panel for Clear Rules on Use, Lending

The Senate Finance Committee’s recent interest in the nuances of taxing digital assets has sparked hope among cryptocurrency businesses for a holistic approach that won’t cripple the ecosystem. The committee released a request for information this summer asking the public for its thoughts on topics surrounding digital assets, including how things such as cryptocurrencies should fit into existing laws and whether new legislation is needed. Responses were due Sept. 8. Many in the industry say the current piecemeal approach to crypto policy—shaped by a mix of IRS and Treasury guidance, Securities and Exchange Commission “regulation by enforcement,” and court ...