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“Both proposals face potential legal and political hurdles. But Wyoming has gone further than any other state in passing laws to accommodate cryptocurrency adoption, and backers of the proposal there believe it will be the first state to take a significant step in the realm of tax payments,” Politico reported. Why it matters: U.S. regulators and lawmakers have yet to introduce significant new rules or regulations when it comes to taxing digital assets. Since crypto is growing, crypto tax advice and compliance are growth fields, too. As a relatively new sector, cryptocurrencies are likely to be met with waves of new regulation and legislation, as the government tries to figure out how — or even whether — digital assets fit into the existing tax system. It’s a good idea to get a handle on what you’re on the hook for now, before it changes once again.

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