Crypto has one real tax edge over stocks. Congress moved to kill it.
Crypto investors have had one tax advantage stocks never got. Sell at a loss, buy the same coin straight back, and still claim the loss. The House Ways and Means bill marked up Wednesday would extend the 30-day wash sale rule to digital assets and end that.
Scott Melker’s read is that the same bill hands back something smaller, a $10 exemption on network fees, and that the trade is not obviously in holders’ favor.
He also covers today’s cloture vote, a separate bill to lock the government’s Bitcoin away for 20 years, and Broadridge wiring crypto into the systems advisors already use.
Timestamps
0:00 Cloture day, and what the vote actually is
2:04 Mitch McConnell shows up
2:48 Why cloture is not the bill passing
4:07 The Democrats’ counter gets rejected
5:41 The House crypto tax bill
7:34 The wash sale loophole closes
8:07 The Strategic Bitcoin Reserve bill
10:07 A rate hike, and yields at 5%
12:51 Broadridge plugs crypto into Wall Street’s plumbing
#Bitcoin #Crypto #CryptoTax #IRS #ClarityAct #YahooFinance #ScottMelker #DailyWolf
==
AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors.
👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571
source
