The US Senate Finance Committee is all set for its October 1 hearing, titled ‘Examining the Taxation of Digital Assets.’
Lawrence Zlatkin, Coinbase Global’s vice president of tax, and Jason Somensatto, director of policy at Coin Center, will be providing testimonies during the hearing.
Zlatkin brings extensive industry experience in taxation laws and policies. Before Coinbase, he held senior roles in various MNCs and law firms, making him a go-to expert for matters involving complex tax structures such as crypto.
Similarly, Somensatto is a legal expert in financial regulation, advocating for compliance-friendly crypto rules.
Together, both Zlatkin and Somensatto will offer practical, real-world insights into how tax policies can affect investors and the broader crypto community at large.
Although the Bill will see its fair share of discussions and debates, it has the potential to become a turning point for the crypto industry.
Provisions like clear definitions, logical exceptions, and fair on-books tax treatment can address the long-standing legal fog surrounding cryptocurrencies, fostering quicker adoption, transparency, and innovation.
The arrival of Donald Trump as US president has ushered in a new era of regulatory clarity surrounding cryptocurrencies.
Now, the Senate hearings on designing strong taxation frameworks around crypto might be the last piece of the puzzle.
With the possibility of exemptions around the corner, it’ll only encourage more retail participation on the blockchain.
This then means that associated industries, like the crypto wallet segment, are set to receive a huge boost.
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It’s tied to the Best Wallet app, which, as explained above, solves a very real and tangible problem, providing easy crypto portfolio management for beginners and pros alike.
By investing in $BEST, you’re essentially betting on the long-term success of Best Wallet, which aims to capture 40% of the non-custodial crypto wallet market share by 2027.
And that’s just the investment side of the story. Holding $BEST also gives you several other perks within the wallet ecosystem, such as:
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Disclaimer: Crypto investments are highly risky due to the market’s volatility. This article is not financial advice, so kindly do your own research before investing.
