According to a report from the Wall Street Journal, Joe Biden will introduce changes to crypto taxes in his upcoming budget plan.
The well-known publication, the Wall Street Journal, reports that the president will propose changes to the rules of taxation of cryptocurrencies in order to combat “laundering” operations.
The new cryptocurrency tax policy is projected to raise $24 billion. It will be part of Biden's broader 2024 budget plan, which aims to reduce the federal deficit by $3 trillion over a decade.
The proposal may not succeed due to opposition from the Republican Party. She currently has a majority in the House of Representatives, despite Biden's Democratic leadership and a Democratic Senate.
Other reports suggest NFTs may be subject to taxation. But these are rather thoughts out loud, since there have been no direct statements from officials yet...