The new document is aiming to free cryptocurrencies from double taxation. The draft bill introduced by Representative Ted Budd (NC-R) is currently under consideration of the United States House Committee on the Budget awaiting approval.
The Internal Revenue Service (IRS) has issued the instruction on the distinction of the genuine letters from the fakes.
To mitigate the influence of the American sanctions on the export of Chinese goods in the USA, the authorities of the People’s Republic of China let Yuan fall by 7% due to the strengthening of the USA’s pressure on China via additional customs duties.
The Internal Revenue Service has sent more than 10 thousand tax compliance letters to clarify crypto tax filing requirements.
The restriction will also affect operations with BCH, LTC, ETH; QTUM, BTG, EOS, OMG, SNT will be forbidden for the citizens of other states. The resolution is due to the USA’s tough regulation and the absence of exact cryptocurrency laws.