The digital asset market has grown rapidly over the last several years and we are at a crucial moment where tax clarity is needed to ensure that the United States remains the crypto capital of the world. Without a clear administrable tax code, digital assets will be pushed offshore and give advantage to foreign adversaries and weaken our financial stability. As the digital asset market continues to grow, more and more taxpayers have entered this space. However, due to confusion, ambiguity, lack of clarity, as highlighted today, some digital asset owners may have underpaid taxes due. (00:40–00:53)
CLAIM
Asserts that lack of a clear tax code for digital assets could push them offshore, benefiting foreign adversaries and weakening U.S. financial stability.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
