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Crypto Investors Get Temporary Win as Biden Plan Stalls

  • Bill includes ‘constructive sale’ and ‘wash sale’ provisions
  • Restrictions already apply to stocks and other securities
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What Crypto’s Breakout Year Means for the Market in 2022
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The turmoil around President Joe Biden’s signature economic plan is a temporary victory for crypto investors who were facing the possibility of higher capital gains taxes if it was enacted.  

Tucked inside the House’s version of the plan passed in November were two measures that would limit tools those investors can currently use to lower their taxes -- restrictions that already apply to stocks and other securities. The provisions were retained in an unfinished version of the Senate Finance Committee’s portion of the plan released earlier this month.