#par act

[rwatimes]

Rep. Kustoff introduces bill to treat digital assets like other financial instruments

➤ U.S. Rep. David Kustoff introduced the PAR Act (H.R. 9176) to align the tax treatment of digital assets with traditional financial instruments. ➤ The bill proposes extending securities lending rules, offering mark-to-market accounting for dealers, and expanding trading safe harbors for foreign investors. ➤ The legislation aims to provide tax clarity, foster innovation, and maintain U.S. competitiveness in the digital asset space.

[rwatimes]

Press Release: Congressman David Kustoff Introduces Legislation to Modernize Tax Treatment of Digital Assets

➤ Congressman David Kustoff has introduced H.R. 9176, the PAR Act, to modernize the tax treatment of digital assets. ➤ The legislation aims to align digital asset taxation with traditional financial instruments, fostering innovation and maintaining U.S. competitiveness. ➤ Support from the Ways and Means Committee indicates a move towards clarifying tax code uncertainties for digital assets.