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The post Elizabeth Warren and Bernie Sanders Urge a Crackdown on Crypto Tax Evaders! appeared first on Coinpedia Fintech News
Left-leaning lawmakers in the US are pushing the Internal Revenue Service (IRS) and Treasury to issue and implement tax reporting guidelines for cryptocurrency brokers. This move is aimed at curbing tax evasion in the crypto space, which reportedly costs billions of dollars annually. Senators Elizabeth Warren, Bob Casey, Richard Blumenthal, and Bernie Sanders are calling for stricter reporting requirements to ensure that crypto traders and exchanges comply with tax laws. The proposed rules were already included in the infrastructure bill passed in August, but lawmakers want the agencies to fast-track their release and implementation.
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