U.S. Senators urge Treasury to fix crypto tax burden

U.S. Senators Lummis and Moreno have requested the Treasury to clarify the tax regulations affecting cryptocurrencies, highlighting disadvantages for American firms.

The senators argue that current laws could hinder U.S. Crypto companies, as they face a minimum 15% tax rate based on financial statement income, unlike their global counterparts.

To promote a fairer environment for U.S. Crypto firms, Lummis and Moreno suggest excluding unrealized crypto gains from the tax calculation.