Crypto Tax Threatens Forced Sell-offs

Senators Urge Treasury to Prevent Tax on Unrealized Crypto Gains

• Senators Cynthia Lummis (R-WY) and Bernie Moreno (R-OH) are involved.
• The focus is on preventing a tax on unrealized crypto gains.
• Concerns include potential forced sell-offs by U.S. crypto firms.
• The issue could affect U.S. leadership in digital assets.
• Treasury Department is urged to act swiftly.

Senators Lummis and Moreno have called for urgent action from the Treasury Department to prevent a tax on unrealized crypto gains, which they warn could lead to forced sell-offs and impact U.S. digital asset leadership.