Bitcoin, Crypto currency, Blockchain

New crypto rules for Bitcoin and Altcoins in the United States? – Coin Hero

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New crypto rules for Bitcoin and Altcoins in the United States?

Home News New crypto rules for Bitcoin and Altcoins in the United States?

Of
Matthias Nemack –
08.07.2019

So far, more stricter rules in the United States seemed likely. Now the policy, but it wakes up a bit. More relaxed guidelines could be followed.

Less strict requirements for crypto-taxation?

That it would, sooner or later, give corrections to the previous legal situation around digital currencies such as Bitcoin or Ethereum, it was clear. Not only in the USA, most of the existing tax laws are not focused on crypto-currencies. The consequences of the General lack of regulatory and legal gaps, which take advantage of just Criminals on a regular basis. The Internal Revenue Service seems to be currently thinking about possible Revisions to the current guidelines. Reports in the media that could do that within the next few weeks a lot of things. At least, if the IRS is based on the requests of various members of the US Parliament. And this is likely to be given in a number of areas. In April of this year, a group of politicians should have made an application, whose goal is to be the “strengthening of the crypto industry.” This is the industry itself is probably more to do with skepticism, As representatives of the crypto world to be noisy in the case of notifications to regulatory efforts.

Members of Parliament are calling for crypto support

The information from the media, confirm at least three main guidelines to changing conditions, and Coin could be owners in the house. The IRS aims to the currently most significant sticking point in the trade Litecoin, Bitcoin and other tokens as well as their possession. In addition, the experts deal with the U.S. market as a whole. Some of the authors of legislative proposals expected for the market as a result of a realignment of the guidelines with the growth of the sector. Critics assume that the measures will represent more of an incision of the trade freedoms. A series of co-word but apparently they have really the Welfare of the US sector of the crypto market. As reports point out that countries such as Switzerland or Japan should be already a good step to circulate. The United States needed to be active, to also new crypto and Blockchain-to attract projects. Also for investors, we must be more attractive. By the way, the U.S. authorities concerned, especially because of Facebook’s plans for its own currency Libra with cryptographic issues. Because the Libra-interest in the United States is quite large.

More freedom for US companies in the crypto and Blockchain-sector?

A possible Instrument may be a so-called “Token Taxonomy Act”. The aim is to remove the Token from the normal value of paper-classification would be. Conceivable tax seem to be exemptions for payments made with digital currencies in a manageable amount. Furthermore, an additional Amendment could come under the working title “Blockchain Regulatory Certainty Act”. This Directive could ensure that companies using Blockchain-activities are not classified automatically as a financial service provider or transmitter. Exactly when the new guidelines come, not disclose to the IRS. Obviously, but not least, that US company crypto-shift shops without more freedoms, in the home abroad. The good news is that not only the tightening of the US law are possible. The Parliament, or the IRS could crypto-rules are certainly less stringent than, for example, India or South Korea to align.

Featured Image: From AevanStock | Shutterstock.com

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