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U.S. bipartisan lawmakers introduce the PARITY Act to promote the improvement of the cryptocurrency asset tax framework
Deep Tide TechFlow News, May 30 — Chairman Jason Smith of the U.S. House of Representatives Fundraising Committee stated that digital asset tax reform needs bipartisan support, otherwise the related bill will not proceed.
Subsequently, U.S. Representatives Steven Horsford, Max Miller, Suzan DelBene, and Mike Carey jointly introduced the Digital Asset Protection, Accountability, Regulation, Innovation, Tax, and Revenue Act (PARITY Act), aimed at updating digital asset tax rules, providing a clearer regulatory framework for the industry, while strengthening investor protection and combating market manipulation.
Currently, the PARITY Act and the ongoing CLARITY Act are seen as important components of the United States' effort to build a comprehensive digital asset regulatory system. The market is generally focused on the subsequent progress of these two bills, believing they could further clarify the regulatory and tax environment for the U.S. crypto industry.