Bitcoin Advocates Oppose New PARITY Act Over Mining Tax
Bitcoin Advocates Oppose New PARITY Act Over Mining Tax
Bitcoin advocates are expressing strong opposition to the proposed bipartisan PARITY Act, a tax bill they contend unfairly targets and penalizes cryptocurrency miners with prohibitive tax structures. The legislation, introduced by US Reps. Max Miller and Steven Horsford, aims to redefine the taxation of digital assets within the Internal Revenue Code.
Bitcoin advocates are questioning a newly drafted bipartisan tax bill, arguing the legislation aggressively penalizes miners with prohibitive tax structures. The draft legislation, known as the PARITY Act, was circulated by US Reps. Max Miller and Steven Horsford. The bill aims to overhaul the Internal Revenue Code to clarify the taxation of digital assets in