GENIUS Act Passes the House: A Defining Moment for U.S. Crypto Policy
Praised by SEC Chairman Paul S. Atkins in an official statement, the GENIUS Act reflects years of bipartisan effort to create a coherent legal framework for crypto asset innovation in the United States. The bill’s passage represents more than regulatory progress—it is a signal that U.S. policy is beginning to shift from enforcement-by-default to regulation-by-design.
Crypto Isn’t Subject to Wash Sale Rules—and That’s a Good Thing
Tax policy and cryptocurrency often intersect in fascinating and sometimes contentious ways, and one prime example is the ongoing debate over the application of the wash sale rules to digital assets. These rules, codified under section 1091 of the tax code, are a cornerstone of tax law for traditional securities, designed to curb tax-motivated sales. However, they currently do not apply to crypto assets—and that’s not a loophole; it’s a deliberate and defensible policy decision rooted in sound tax principles.