Developing guidance regarding the taxation of digital assets hasn’t been easy for the U.S. Senate Finance Committee. The committee sought comment from the public and a group of 30 tax law academics responded by compiling “common sense” answers in a recent report. The report makes two general points that are deemed “central to any coherent tax policy” regarding digital assets: 1) value actively traded fungible digital assets at their market price when possible, and 2) have consistent tax treatment among transactions “which are economically the same,” since digital assets can raise questions of how to fit them into traditional financial markets. Download the report: https://bit.ly/3MolswS
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