Trump just signed a law that says, βHey IRS, chill out β crypto brokers donβt have to snitch on every little thing.β
Discussion
So no taxes on crypto or naw?
Naw gang, u still gotta pay taxes on crypto gains
this just means brokers like CB donβt have to report every single trade to the IRS automatically
U still responsible for reporting your own gains (and losses)
Nah. He made an executive order. BIG difference.
He signed a law, not an executive order.
Specifically, he signed H.J. Res. 25, which is a Joint Resolution passed by both the House and the Senate. That makes it an act of Congress β just like any regular law β and once the President signs it, it officially becomes law.
So yeah, this was Congress saying, βWe donβt like that IRS rule,β and Trump signing off to make that cancellation official
My mistake! I thought it hadnt cleared the Senate yet. I can't read....