Tax Sound Bytes: Digging Deeper into the Hot Topic of Cryptocurrency

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In the fourth episode of Tax Sound Bytes, a podcast series from the Tax Practice Group covering issues affecting international and taxing the digital economy, host and Eversheds Sutherland Associate Marie-Kate Nicholson welcomes Partner Jon Sambour to discuss a hot topic – cryptocurrency taxation.

They cover the US Infrastructure Bill of 2021which included several provisions targeting cryptocurrency and digital assets, as well as a proposal for information reporting by certain financial institutions and digital asset brokers of the US Treasury Green Book. Jon gives his thoughts on how he sees the new reporting requirements of the Infrastructure Bill once they come into force in 2023, as well as how the proposed reporting requirements could change things. In addition, they talk about a bill recently proposed as part of a bipartisan bill, the Lummis-Gillibrand Responsible Financial Innovation Act, which aims to correct certain aspects of the infrastructure bill. They conclude the tax part of the conversation with Jon’s thoughts on where he sees the crypto space in the near term.

Continuing the tradition, their conversation ends with Mary Kate’s favorite non-tax question: If there was one book you could re-read for the very first time, what would it be?

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Jessica C. Bell