Lawmakers Push for Faster Crypto Tax Rules, Warning Delay Could Cost Billions
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U.S. lawmakers urge IRS to implement crypto tax reporting rules before 2026, saying delay could cost billions in lost revenue.
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7 Senators sent letter criticizing proposed 2026 start date, calling for swifter implementation.
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Lawmakers say delay gives lobbyists more time to undermine administration's crypto regulation efforts.
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Senator Elizabeth Warren referred to crypto as financial weapon of Hamas amid recent Israel-Gaza conflict.
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House Speaker Patrick McHenry criticized reporting rules as attack on digital asset ecosystem.