Proposed Treasury crypto regulations bring clarity, but questions remain

October 25, 2023

Proposed regulations recently released by the Treasury Department help bring added clarity to participants in the digital asset economy. Investors, centralized crypto exchanges, payment processors, some hosted wallet providers, and some decentralized exchanges are the most affected. Proposed regulations move the ballThe proposed regulations are an excellent next step, TaxBit’s Erin Fennimore, Miles Fuller, Seth Wilks and John Schoenecker wrote in an essay on their website. The proposed regulations also address some gaps left by the IIJA regulations. The regulations require digital asset payment processors to provide information on how customers liquidate their digital assets.

The source of this news is from TaxBit