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Musk on Proposed Crypto Tax Provision -‘Not the Time to Pick Winners or Losers in Crypto Technology’

·1 min read

BeInCrypto –

Tesla CEO Elon Musk has weighed in on the discussion surrounding a proposed crypto tax provision. The provision, part of the infrastructure bill, will go to a vote on August 7. Meanwhile, United States senators Patrick Toomey, Ron Wyden, and Cynthia Lummis have suggested an amendment to that provision, working in favor of Proof of Work miners.

Musk replied to a ten-part Twitter thread started by Coinbase’s Brian Armstrong late on August 4. Highly critical of the proposed crypto tax rule, Armstrong’s thread began:

“If you’ve been following threads on the Infrastructure bill, you know that there is a hastily conceived provision related to digital assets.

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