Chairman of the Financial Services Committee of the U.S. House of Representatives: New Treasury Department tax regulations are killing the U.S. digital asset ecosystem

Odaily Planet Daily News Patrick McHenry, chairman of the House Financial Services Committee, commented on the proposed tax rule recently released by the US Department of the Treasury: "The proposed rule is another blow to the digital asset ecosystem by the Biden administration. In the "infrastructure investment and After the passage of the "Jobs Act," legislators from both parties said that any proposed rule must be precise and clear. I am pleased to see that the delayed effective date and exemptions for other activities in the proposed rule are consistent with the bipartisan bill. However, in many other respects it Both have failed, and the Biden administration must end its efforts to stifle the U.S. digital asset ecosystem and work with Congress to finally provide clear regulations for the industry. I look forward to advancing a bipartisan solution to fix these misleading reports requirements, protect the privacy of market participants, and ensure that the digital asset ecosystem can thrive in the United States."