The House Financial Services Subcommittee on Monetary Policy and Trade considered testimony on the future of cryptocurrencies, including the potential development of central bank digital currencies.
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A Facebook executive agreed to work with the IRS to improve regulations on digital currency transactions.
U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.
The IRS updated its guidance on the tax treatment of virtual currency transactions.
The IRS proposed an amended draft of the 2019 Form 1040 that includes a question about taxpayer virtual currency transactions.