The Week in Crypto Policy: Stablecoins and Tax Rule

Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) are reportedly teaming up on a new standalone stablecoin bill they hope can thread the needle on balancing federal and state oversight of certain stablecoin issuers. A former IRS Commissioner sharply criticized the IRS’s recently proposed tax rules for digital asset brokers, adding more pressure to clarify and narrow the scope of the proposal.

Continue reading on Messari