The US government is proposing a new set of rules for the taxation of cryptocurrency transactions. The public has until October 30 to submit comments and there will be public hearings on November 7 and 8. The industry may be concerned about the treatment of decentralized exchanges, which could be subject to the reporting requirement even though there may be no staff or management to handle such affairs. The rules could be approved in a final form in the coming months, giving the industry time to lobby federal officials before anything is set in place for the 2025 tax year.

Information Details
Geography North America
Sentiment neutral
Relevance Score 8
People None
Companies Treasury, IRS, decentralized exchanges, federal officials
Currencies None
Securities None

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