New house bill is a trap! It changes the status of crypto from property to currency that is subject to ordinary gains instead of capital gains! This is NOT to crypto holders advantage.

It’s a god damn trap. They want to catagorize virtual currency under section 26 of US code. https://coincenter.org/files/2020-01/delben-049-xml-final.pdf (b) VIRTUAL CURRENCY.—For purposes of this section, the term ‘virtual currency’ means a digital representation of value that is used as a medium of exchange and is not otherwise currency under section Read more…