Statement from Blockchain Association CEO Summer Mersinger on Ways and Means Digital Asset Tax Discussion Drafts

“Thank you to Chairman Jason Smith and the House Ways and Means Committee for their continued work on bipartisan digital asset tax legislation. Clear, administrable tax rules are essential for American consumers, developers, and businesses that use and build blockchain technology, and these efforts represent an important step toward modernizing the tax code for the digital economy.

We are encouraged to see the Committee advancing this conversation and look forward to Tuesday’s legislative hearing. Policymakers have a meaningful opportunity to provide taxpayers with workable rules, promote compliance, protect privacy, and ensure the United States remains the best place in the world to build.

Earlier this year, Blockchain Association released our Digital Asset Tax Principles to provide Congress with a practical, pro-innovation framework for reform. We appreciate the Committee’s continued focus on these issues and stand ready to work with lawmakers on both sides of the aisle to advance clear, fair, and effective digital asset tax policy.”