KPMG article: Tax considerations for cryptocurrency investors
A discussion of the Trump administration’s statements and policies surrounding cryptocurrencies.
President Trump is keenly interested in cryptocurrencies, having said he will make the United States the “Crypto Capital of the World.” This represents a marked change from the Biden Administration’s approach to cryptocurrencies, which was largely focused on regulation of the securities laws by enforcement. This new political climate makes it possible for dramatic changes in the industry, with tax included.
Read a May 2025 article* prepared by KPMG LLP tax professionals that begins with a discussion of the Trump administration’s statements and policies surrounding cryptocurrencies. It then focuses on certain tax issues relevant to investors in this space, including (1) the classification of cryptocurrencies, (2) specific lot identification, (3) considerations relevant to cryptocurrency losses, (4) considerations for charitable donations, (5) the taxation of blockchain rewards, (6) the tax treatment of forks and airdrops, (7) an update on the broker reporting rules, and (8) the interplay of recent accounting rule changes and the corporate alternative minimum tax (“CAMT”).
*This article appears in the Journal of Taxation of Financial Products (Volume 22 Issue 1) and is provided with permission.