The best way to resolve this problem would be to break the category “digital assets” up into three types: stable digital assets (stablecoins and LTDA), non-stable fungible coins (bitcoin, ether, dogecoin, etc) and non-stable non-fungible coins (NFTs). The monetary threshold for triggering a Form 8300 reporting requirement, currently set at a flat $10,000, should be indexed to … [Read more...] about Why Crypto Should Modify the Section 6050i Tax Change, Not Fight It
6050I
What to Do About the Looming Disaster for Crypto in 6050I
This episode is sponsored by NYDIG.Download this episodeOn this edition of “The Breakdown Weekly Recap,” NLW covers:SEC Chair Gensler’s recent comments on crypto enforcementThe OCC concludes its crypto sprintWhy the crypto community is so concerned about Infrastructure Bill amendment 6050IThe vibe from NFT.NYCSee also: Market Wrap: Bitcoin Could Break Out and Rise With Altcoins … [Read more...] about What to Do About the Looming Disaster for Crypto in 6050I