In an open letter to Representative Tom Emmer, IRS Commissioner Charles Rettig promised to make clarity around cryptocurrencies for taxpayers a priority at his agency.
Congressional Representative Tom Emmer has announced plans to reintroduce a bill meant to “provide temporary safe harbor for the tax treatment of hard forks of convertible virtual currency in the absence of administrative guidance.”
The bills focus on fostering government support for the blockchain space, clarifying money transmitter regulations and devising a tax scheme for hard forked assets.
“People tend to fear what they don’t know. If people sailing the oceans at the time of Columbus had believed the world is flat, we wouldn’t have had the great discoveries of the New World.”
