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🪙 Crypto
US Congress moves to close lucrative crypto wash-sale tax loophole
Crypto investors in the US have until now been exempt from "wash sale" rules that prevent selling assets at a loss purely to reduce taxes and immediately buying them back — rules that apply to stocks and other traditional assets. Congress is now pushing to apply the same restrictions to cryptocurrencies. The change would eliminate a widely used tax-minimisation strategy among Bitcoin and altcoin holders.
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