US Is Debating Risk vs. Liability for New Crypto Tax Rules

U.S. Treasury department officials are wrangling with how to focus a coming set of crypto tax rules.

AccessTimeIconNov 19, 2020 at 8:25 p.m. UTC
Updated Sep 14, 2021 at 10:33 a.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

U.S. Treasury Department officials are weighing the pros and cons of a risk-based approach to cryptocurrency tax reporting versus a model more focused on tax liabilities.

Top considerations are the trade-offs each model would bring to a still-developing set of crypto tax rules, said Erika Nijenhuis, senior counsel at Treasury's office of tax policy. Bloomberg Law first reported the comments.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.