But regardless of opinion about the industry or the asset it produces, it should not preclude this committee from writing clear tax rules for an industry that has the same global market capitalization as Amazon. One of the major flaws in the current digital asset environment is the requirement for separate reporting for every transaction. no matter how small or routine. This burdensome for taxpayers and administratively inefficient for the IRS has left many taxpayers, brokers, and the IRS spending dollars to track pennies. (00:43–00:51)
CLAIM
Asserts that the current digital asset environment requires separate reporting for every transaction, which is a flaw.
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