US Treasury Department Proposes New Tax Regulations for Digital Assets in 2025 Fiscal Plan

According to PANews, the US Treasury Department released its 2025 fiscal revenue plan, also known as the 'Green Book,' on Monday, which once again proposed a large number of tax provisions related to digital assets. These include prohibiting wash trading and imposing consumption taxes on the electricity costs of miners. Miners leasing equipment are also required to report their electricity costs, and companies using off-grid power must pay 30% of the estimated costs. Last year, the Biden administration first proposed imposing consumption taxes on the mining industry, citing environmental concerns. In addition, US Treasury Department officials hope to apply wash sale rules to cryptocurrencies. The Green Book states: 'Taxpayers may sell a loss-making digital asset that is not considered a stock or security on one day and repurchase the same digital asset the next day. The same loss recognition rules should apply to digital assets held as investments or for trading, just as they apply to stocks and securities.'

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