Estimated reading time: 0 minutes, 29 seconds

Cryptocurrency is causing a tax “nightmare,” said an expert testifying before Congress during the recent “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses,” meeting. So reports Cointelegraph.

capitol 720677 640smallMarvin Ammori, a member of the Protocol Labs General Council, said some of the complications arise from the need to keep track of the value of bitcoin, for example, at the exact time of each transaction made with the cryptocurrency. One solution he proposed was a de minimis tax exemption, like one included in the Virtual Currency Tax Fairness Act.

Read the full article from Cointelegraph.

Read 510 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline