News > US releases the Crypto Tax Fairness act to boost adoption
US releases the Crypto Tax Fairness act to boost adoption
Tech Story | 06/02/2022 10:48 AM | Click to read full article
The US has recently released the Crypto Tax Fairness act in order to boost adoption and increase its use as a payment medium. This act is the US lawmaker’s goal to make cryptocurrencies a more legitimate part of the economy.
The bill was introduced by Suzan DelBene and David Schweikert on Thursday and was supported by Congressmen Dareen Soto and Tom Emmer. Unlike India’s taxation system, which has introduced a flat system rate for crypto tax, this act could design a proper structure for the same.