The Global Digital Asset & Cryptocurrency Association (GDCA) Ask House Leadership to Amend the Crypto Tax Provision in the Senate's Infrastructure Bill in Member Supported Letter

WASHINGTON, Aug. 19, 2021 /PRNewswire/ -- The Global Digital Asset & Cryptocurrency Association (GDCA)'s Advocacy Subcommittee Chairwoman Jill Richmond released the following statement in conjunction with GDCA member-endorsed letters submitted to the leadership of the U.S. House Ways & Means Committee and the U.S. House Financial Services Committee.

"The Global DCA strongly supports the notion that the digital asset industry should contribute to the development of our nation's infrastructure. In that vein, we still have an opportunity to fix the original language in the Bipartisan Infrastructure Investment and Jobs Act by ensuring all stakeholders are adequately considered. We, at GDCA, strongly support thoughtful and carefully tailored regulation for the digital asset and cryptocurrency industry. We have made appropriate recommendations that would provide for fair and reasonable tax reporting requirements without harming innovation in our nascent industry. We believe this approach will enable the United States to maintain its edge in the digital economy. We look forward to continued work on smart, inclusive, and considerate policy solutions."

ABOUT THE GLOBAL DIGITAL ASSET & CRYPTOCURRENCY ASSOCIATION (GDCA)
The Global Digital Asset & Cryptocurrency Association (GDCA) is a global self-regulatory association for the digital asset industry. The GDCA was started in 2020 to guide the evolution of digital assets, cryptocurrencies, and the underlying blockchain technology within a regulatory framework designed to build public trust, foster market integrity, and maximize economic opportunity for all participants. The 40+ broad-based membership includes proprietary trading firms, traders, investors, asset managers, brokerage firms, custodians, surveillance system providers, decentralized technology organizations, banks, legal firms, audit firms, insurance professionals, academics, consultants, and media. To fulfill the mission, GDCA devises standards and solutions based on member-driven consensus that address the major challenges facing the digital asset and cryptocurrency industry. GDCA collaborates with stakeholders, industry leaders, and policymakers to support the growth of the global digital economy. Underlying their activities is a mission to support thoughtful regulation that brings clarity, fairness and transparency to the markets and stakeholders, protects retail customers and consumers, and supports the U.S. and global efforts to reduce illicit activity, increase security and enhance environmental sustainability.

CONTACT: Jill Richmond, [email protected]

SOURCE Global DCA