The Congressional Research Service outlined the benefits and drawbacks of imposing additional data collection requirements with respect to cryptocurrency transfers.
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In remarks following the G20 Finance Ministers and Central Bank Governors meetings, Secretary of the Treasury Janet L. Yellen stated that 132 countries are coming to a consensus around a global corporate minimum tax rate of at least 15 percent.
Senate Finance Committee Chair Ron Wyden (D-OR) intends to introduce a broad "mark-to-market" bill later this year that would require certain taxpayers to pay an annual tax on any unrealized gain on assets.
A federal court in the District of Massachusetts authorized the IRS to serve a "John Doe" summons on a Boston-based "digital currency exchanger" seeking information about as yet unidentified U.S. taxpayers who, from 2016 to 2020, conducted at least $20,000 in cryptocurrency transactions.
American Compass Executive Director Oren Cass recommended that policymakers increase capital investment towards productive development.