According to reports, the Biden administration plans to apply the wash sale rule to crypto, putting an end to a common tax strategy used by traders. This strategy involves selling and then immediately buying digital assets, which would no longer be allowed under the proposed rule. The Biden Administration’s Budget Proposal For Crypto As part of U.S. President Joe Biden’s budget proposal for fiscal year 2024, there are some surprising changes in store for crypto traders and investors. These include a proposal to double capital gains for certain investors and a crackdown on crypto wash sales. The budget plan, set The post Biden Reportedly Planning to Clamp Down on Crypto Wash Sales appeared first on Cryptoknowmics-Crypto News and Media Platform .
