Richard Neal: “Providing those who receive staking rewards with the ability…”

“So, Mr. Catcher, in Reading your testimony, if you don't mind, I want to ask you, as you spent some time on some of the allotted questions that we have, you pointed out that Providing those who receive staking rewards with the ability to defer recognizing income on those rewards has the potential to create real imbalance in our financial system. Can you explain in more detail on how this tax advantage could potentially encourage people to move their money out of traditional banks and into cryptocurrency, consistent with the discussion we've had here clearly about establishing rules of the road?” (00:11–00:34)

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