White House report suggests Bitcoin miners may pay tax only on sales to avoid double taxation
2025/08/05 21:14
PANews reported on August 5th that, according to The Block , the White House Digital Asset Task Force recommended in a 168- page report that the IRS clarify the tax timing for Bitcoin mining profits, perhaps shifting to a tax accrual at the time of sale to avoid double taxation of "mining income tax and capital gains from sales." BitFuFu CEO Leo Lu stated that this move would significantly reduce the tax burden on miners and accelerate Bitcoin's popularization. Congressional bills such as HR 8149 have already proposed similar tax deferral schemes.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
CEA Industries, which completed a $500 million private placement, will be renamed BNB Network Company.
PANews reported on August 5th that, according to GlobeNewswire , CEA Industries completed a $500 million private placement led by YZi Labs. The company plans to purchase BNB as its
Share
PANews2025/08/05 22:08
100 listed companies worldwide hold over 955,000 Bitcoins
PANews reported on August 5th that data shows that the top 100 publicly traded companies currently hold a total of 955,526 BTC, representing approximately 4.55% of the circulating supply. MicroStrategy
Share
PANews2025/08/05 22:29
Nasdaq, S&P 500 eye gains as stocks rebound
Wall Street opened higher on Tuesday as stocks looked to extend the positive start to the week, with earnings in focus as investors continued to monitor the macroeconomic environment. The S&P 500 had added 0.1% and Nasdaq Composite was edging…
Share
Crypto.news2025/08/05 22:11