The senators argued that without such relief, US corporations could be forced to sell crypto to meet tax obligations or reduce their holdings, putting them at a disadvantage to foreign firms subject to different accounting standards.
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US lawmakers warn Treasury on taxing US firms’ unrealized crypto gains
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Senators Cynthia Lummis and Bernie Moreno argue that without regulatory relief, U.S. corporations may be forced to liquidate digital assets to cover tax obligations on unrealized gains, placing them at a competitive disadvantage compared to foreign firms with different accounting standards
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