Tax loophole may be closed, U.S. lawmakers push to include crypto assets in wash sale rules

Odaily Planet Daily News Some U.S. lawmakers are pushing to include crypto assets in traditional wash sale rules to eliminate a long-standing tax loophole. Under current rules, investors in securities such as stocks who repurchase the same or substantially similar assets within 30 days before or after a loss-making sale cannot claim that capital loss for tax deduction. However, crypto assets like Bitcoin and Ethereum are treated as property under tax law and are not bound by these rules, allowing investors to harvest tax losses without changing their holdings.