- Implementation of a law to catch crypto tax cheats is delayed inside the Treasury Department, putting billions of dollars in federal revenue at risk.
- The tax rules are part of the administration’s strategy of making crypto investors play by the same rules as others.
- Sen. Elizabeth Warren and three other senators are pushing the Biden administration to move quickly.
- The Treasury Department and Internal Revenue Service have not issued final rules addressing questions such as the definition of a broker.
- The tax rules, once implemented, will give the IRS more information about crypto investors’ profits and will inform investors that the IRS knows they have made money.
Crypto Rules Delay Puts Billions in Tax Revenue at Risk
Democratic senators are pressing Biden administration to speed up release of regulations tied to 2021 law
Richard Rubin and Pa
