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US Democrats seek to include digital assets to 'wash sale' rule and raise capital gains tax

Some US Democrats have proposed tax initiatives to fund a $3.5 trillion spending portfolio. The move could potentially affect crypto users. A document released by the House...
US Democrats seek to include digital assets to 'wash sale' rule and raise capital gains tax US Democrats seek to include digital assets to 'wash sale' rule and raise capital gains tax

Some US Democrats have proposed tax initiatives to fund a $3.5 trillion spending portfolio. The move could potentially affect crypto users.

A document released by the House Committee on Ways and Means on Monday revealed that the proposal would increase the tax rate on long-term capital gains from the existing 20% to 25% for “certain high income individuals.” A tariff of 3.8% on net investment income would also apply to the proposed change, bringing the US capital gains and dividends tax rate to 28.8% for wealthy crypto users.

Furthermore, the tax plan will include digital assets to the “wash sale” rules. This will prevent investors from claiming capital gains deductions on certain assets repurchased within 30 days of a sale, a privilege previously enjoyed by stocks and other securities.

Under existing tax laws cryptocurrencies are classified as properties in wash sales. Some crypto investors have used this avenue to avoid capital gains. However, the proposal from US lawmakers will close this loophole.

If the proposed bill is passed and signed into effect, it would require crypto users to report taxes according to the new wash sale rules starting on Dec. 31. The capital gains tax rate would go into effect after Sept. 13.

Recall that the crypto community is already battling with the ambiguous definition of the term "broker" in the infrastructure bill. This could add another dimension to the ongoing struggle.

Nevertheless, the bill for the $3.5 trillion spending package has not been finalized. President Joe Biden’s administration introduced the bill in April to raise the capital gains tax rate for wealthy individuals to 43.4%.

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22-09-2021 08:35:40 (UTC+7)

EUR/USD

1.1730

+0.0007 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

EUR/USD

1.1730

+0.0007 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

GBP/USD

1.3674

+0.0015 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (0)

USD/JPY

109.44

+0.23 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.7265

+0.0034 (+0.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

USD/CAD

1.2781

-0.0034 (-0.27%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

EUR/JPY

128.38

+0.34 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

1.0842

+0.0018 (+0.17%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Gold Futures

1,775.65

-2.55 (-0.14%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (8)

Silver Futures

22.712

+0.101 (+0.45%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.2020

+0.0920 (+2.24%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

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Crude Oil WTI Futures

71.23

+0.74 (+1.05%)

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↑ Buy

Moving Avg:

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Indicators:

Buy (6)

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Brent Oil Futures

75.04

+0.35 (+0.47%)

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↑ Buy

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Buy (12)

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Indicators:

Buy (5)

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Natural Gas Futures

4.824

+0.021 (+0.44%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

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US Coffee C Futures

183.70

+1.10 (+0.60%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

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Euro Stoxx 50

4,097.51

+53.88 (+1.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

S&P 500

4,354.18

-3.55 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

DAX

15,348.53

+216.47 (+1.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

FTSE 100

6,980.98

+77.07 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Hang Seng

24,221.54

+122.40 (+0.51%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (2)

US Small Cap 2000

2,190.36

+8.15 (+0.37%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

IBEX 35

8,756.00

+100.60 (+1.16%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

BASF SE NA O.N.

62.280

+0.620 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Bayer AG NA

45.70

+0.47 (+1.04%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

187.45

+3.59 (+1.95%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

Adidas AG

281.90

+1.38 (+0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

8.377

-0.287 (-3.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Siemens AG Class N

145.32

+3.06 (+2.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (9)

Deutsche Bank AG

10.095

-0.135 (-1.32%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (3)

 EUR/USD1.1730↑ Buy
 GBP/USD1.3674↑ Buy
 USD/JPY109.44↑ Buy
 AUD/USD0.7265↑ Buy
 USD/CAD1.2781↑ Sell
 EUR/JPY128.38↑ Buy
 EUR/CHF1.0842↑ Buy
 Gold1,775.65Sell
 Silver22.712Sell
 Copper4.2020↑ Buy
 Crude Oil WTI71.23↑ Buy
 Brent Oil75.04↑ Buy
 Natural Gas4.824↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,710
(10/ 10) # 823
SJC HCM5,650/ 5,715
(5/ 5) # 827
SJC Hanoi5,650/ 5,717
(5/ 5) # 829
SJC Danang5,650/ 5,717
(5/ 5) # 829
SJC Nhatrang5,650/ 5,717
(5/ 5) # 829
SJC Cantho5,650/ 5,717
(5/ 5) # 829
Cập nhật 22-09-2021 08:35:42
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Sản phẩmVùng 1Vùng 2
RON 95-IV2149021910
RON 95-II,III2139021810
E5 RON 92-II2014020540
DO 0.05S1602016340
DO 0,001S-V1637016690
Dầu hỏa1508015380
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WTI$71.26-0.94-1.32%
Brent$75.08-0.96-1.28%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR26.007,0827.360,60
GBP30.295,3831.561,13
JPY203,28215,04
KRW16,6220,24
Cập nhật lúc 08:32:10 22/09/2021
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