On the face of it, a U.S. bill proposing to raise $28 billion through extra cryptocurrency taxes might unnerve some bitcoin investors. But so far, the market reaction to the bill has been remarkably muted. Last Wednesday, lawmakers drafting a bipartisan infrastructure bill in Congress proposed to raise $28 billion in extra crypto taxes by applying new information-reporting requirements to exchanges and other providers of crypto services.
According to a draft of the bill, any broker who transfers any digital assets will need to file a return under a modified information reporting regime. That would enable the Internal Revenue Service to collect taxes already owed on capital gains from sales of digital assets. Given how digital-asset markets often react fairly quickly to news announcements – the recent rumor that Amazon would accept bitcoin as a form of payment being one example – the bill’s plan for the extra crypto taxes has so far had little impact on bitcoin prices.
Some crypto experts said the bill might have a positive impact on the market, because it could give digital-asset markets more traction and visibility. Henrik Kugelberg, a crypto over-the-counter trader, views the bill as a positive sign of adoption for the market.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
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Bitcoin predictions | 88% | 10 | $26 897.71 | -0.57% | 2.07% | $521 544 143 377 | ||
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Ethereum predictions | 94.4% | 5 | $1 860.48 | -0.05% | 3.44% | $223 714 819 656 | ||
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Tether predictions | 92% | 1 | $1.000026 | -0.01% | 0.03% | $83 224 498 225 | ||
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Binance Coin predictions | 94.8% | 1 | $304.67 | -0.61% | -0.08% | $47 485 262 045 | ||
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USD Coin predictions | 92% | 1 | $0.999756 | -0.01% | -0.01% | $28 847 127 885 | ||
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XRP predictions | 77.2% | 37 | $0.504250 | -1.53% | 11.90% | $26 212 632 900 | ||
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Cardano predictions | 92% | 10 | $0.364572 | -2.55% | 1.76% | $12 717 605 112 | ||
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Lido stETH predictions | 94% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
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Dogecoin predictions | 89.2% | 17 | $0.071692 | 0.74% | 1.81% | $10 007 347 652 | ||
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Polygon predictions | 80% | 35 | $0.893847 | 0.39% | 0.86% | $8 294 424 384 | ||
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Solana predictions | 80% | 29 | $20.71 | 0.55% | 7.01% | $8 214 229 812 | ||
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Wrapped TRON predictions | 80.8% | 37 | $0.074826 | -0.77% | -3.49% | $7 608 018 393 | ||
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Litecoin predictions | 77.6% | 37 | $94.21 | 5.89% | 10.62% | $6 881 721 612 | ||
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TRON predictions | 78.4% | 33 | $0.074853 | -0.76% | -3.71% | $6 753 192 726 | ||
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Polkadot predictions | 87.2% | 11 | $5.23 | -1.35% | -0.75% | $6 224 984 176 |
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