Alston & Bird Tax Blog

Crypto Asset Industry Cautious as Biden Administration Proposes New Reporting Rules

By , and

Our Federal Tax Group mines recent legislative proposals for amendments that could change the way crypto assets are reported – and taxed.

  • Proposed amendments to Section 6045
  • The status of mining and staking activities
  • New proposals from the House Ways and Means Committee
  • Concerns and uncertainties surround any discussion of rewriting crypto tax law

Read the full advisory here.

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About Daniel Reach

Danny Reach is an associate in the Federal and International Tax Group. His practice includes federal and international tax planning, and he has particular experience with the tax aspects of derivative financial instruments.

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About Clay Littlefield

Clay Littlefield, a partner based out of Alston & Bird’s Charlotte and New York offices, is a member of the Federal & International Tax Group. Clay concentrates his practice on tax issues confronted by underwriters, issuers, and investors participating in structured finance transactions, including mortgage and asset-backed securitizations, REMICs, CLOs, REITs, and similar structures.

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About Terence McAllister

Terence H. McAllister focuses his practice on U.S. and international tax matters with experience in a variety of state and local tax matters. His practice covers a spectrum of topics including analyzing the debt and equity characteristics of investments, providing advice in connection with inbound investment into U.S. property, and the taxation of domestic and international transactions.

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