Forbes: US Stablecoins Still Taxed as Property, GENIUS Act Does Not Alter Tax Rules
According to Foresight News, Forbes reports that although the United States recently passed the GENIUS Act, the IRS still treats digital assets as property, and the key tax rules for traders and investors remain unchanged. The GENIUS Act imposes strict reserve, audit, and disclosure requirements on U.S. stablecoin issuers, including 1:1 asset backing and monthly financial attestations. However, the act does not reclassify stablecoins for tax purposes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jefferies lowers SEA target price to $142
Zenix Robotics Invests 5.08 Billion Won to Expand Production Capacity
Anthropic (ANT.US) targets IPO at trillion-dollar valuation; venture capitalists warn it may signal the peak of the AI market
Venture capitalist Selby warns that Anthropic’s trillion-dollar valuation IPO could signal the peak of the AI market, and the expiration of the lock-up period may trigger a chain reaction of corrections.
Wall Street's "Great Rotation" Underway: AI Trading Fades, Tech Stocks Out of Favor, Capital Flows Shift to Defensive Sectors
Analysts point out that as investors shift their bets from high-risk technology sectors to defensive stocks, the market is currently in a "state of alert".
Crypto prices
More
