Congress weighs major tax changes affecting 70 million Americans

Jun 9, 2026 5:17 PM

The IRS treats crypto like property rather than currency, forcing 70 million Americans into a reporting nightmare where every tiny transaction is a taxable event. Even worse, mining and staking rewards are effectively double-taxed—first as income, then again as capital gains. Congress is finally debating an overhaul to address this 'tax trap' and target offshore shelters. Is the current system a fair way to regulate assets, or is it just a blatant government cash grab? What do you think?
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