And some members of this committee might view the digital asset industry and the blockchain as the next technological breakthrough for the financial services industry, and some might view it as a complete … The digital asset industry has the same global market capitalization as Amazon. … 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. (00:29–00:43)
CLAIM
Asserts that the digital asset industry is comparable in market capitalization to Amazon.
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