U.S. Senators Seek to Exempt Crypto Firms from Unfavorable Tax Rules

A bipartisan effort in the U.S. Senate aims to revise how digital assets are taxed under the Corporate Alternative Minimum Tax (CAMT) introduced through the 2022 Inflation Reduction Act. The proposal seeks to exempt companies subject to CAMT from having unrealized gains from their cryptocurrency holdings factored into their adjusted financial statement income (AFSI).