Forbes: Cryptocurrency tax treatment remains unchanged after new US bill

PANews reported on July 24 that, according to Forbes, despite the recent passage of the GENIUS Act and the CLARITY Act in the Senate, the U.S. Internal Revenue Service ( IRS ) still regards cryptocurrencies as "intangible property" for taxation, and the relevant tax regulations have not changed substantially for investors and traders. The GENIUS Act strengthens the compliance requirements for stablecoin issuers, but does not affect the tax classification of crypto assets. The CLARITY Act proposes a regulatory framework for digital asset securities and commodities, but also does not change the existing position of the IRS . Experts pointed out that currently cryptocurrency transactions do not need to comply with the wash sale rules of securities, and investors can flexibly carry forward losses, but they cannot enjoy the preferential tax treatment of some securities or commodity transactions. Unless the U.S. tax law is further revised, cryptocurrencies will still be taxed as property.