Overview
Tax Notes quoted Lisa Zarlenga in a September 7 article titled "Breadth of Crypto Rules Top of Mind After Amendment Failure." The article discusses the growing concern in the cryptocurrency industry around the potential breadth of cryptocurrency reporting requirements.
Current regulations mainly apply to brokers, persons acting as principals or agents that execute transfers on behalf of customers, while miners, stakers, and hardware and software providers have not been included in guidance so far.
Zarlenga states: "If the government takes that same approach with respect to digital assets, then I think in the end, they're going to be fine. If they start getting very aggressive and try to reach some of these other players, I think there probably would be some issues."
The full article can be read at Tax Notes (subscription required).
