Press Releases
WASHINGTON, DC - Today, Congressman David Schweikert (AZ-06), Co-Chair of the Congressional Blockchain Caucus, along with Caucus Co-Chairs Congressman Bill Foster (IL-11), Congressman Tom Emmer (MN-06), and Congressman Darren Soto (FL-09) sent a letter to the Internal Revenue Service (IRS) asking for guidance on the taxation of “block rewards” in a proof of stake network.
Washington, D.C. – Today, Congresswoman Suzan DelBene (WA-01) and Congressman David Schweikert (AZ-06) introduced the Virtual Currency Tax Fairness Act (H.R. 5635), a bipartisan bill which would amend the Internal Revenue Code of 1986 to specifically address transactions made with virtual currency. This bill creates a structure for taxing purchases made with virtual currency, further strengthening the legitimacy of virtual currency in the digital economy by creating parity in the tax code.