In his budget request for 2024, President Joe Biden has suggested changing the tax treatment for so-called “wash sales” of digital assets, which would do away with tax deductions on losses incurred from quickly selling and buying the same or similar crypto investment again. Biden is willing to reduce unnecessary spending, but he rejects many of the GOP’s suggestions. The White House has also been involved in crypto policy, and last year it published a number of reports on digital assets.
Biden ties Republicans to ‘wealthy crypto investors’ in budget battle
