Crypto donation group urges senators to scrap appraisal rules for stablecoins

The Giving Block sent a letter to senators urging removal of appraisal requirements for crypto donations over $5K, calling it burdensome.
They argue appraisals for stablecoins like USDT provide no value since their $1 value is self-evident.
The letter comes in response to a Senate request for input on crypto tax issues and uncertainties.
They recommend scrapping appraisals, saying crypto is like cash/stocks with exchange price data available.
They argue crypto is ideal for humanitarian causes when traditional finance is blocked, citing Ukraine.

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