Coinbase Urges Simplification of Crypto Tax Rules
- Call for Tax Reform: Coinbase's VP of Tax, Lawrence Zlatkin, testified before Congress urging lawmakers to stop requiring Americans to calculate capital gains every time they use stablecoins or pay blockchain fees, arguing that current rules burden consumers without generating significant tax revenue.
- Stablecoin Tax Parity: Zlatkin advocated for federally regulated stablecoins to be treated at par for tax purposes, simplifying tax handling and preventing users from tracking tiny gains and losses in routine transactions, thereby enhancing transaction efficiency.
- Small Transaction Exemption Proposal: He supported Congressman Rudy Yakym's proposal to waive tax reporting on gas fees up to $10 and called for a broader de minimis exemption for small crypto purchases, aiming to encourage everyday use of cryptocurrencies.
- Implementation Challenges of Wash-Sale Rules: Zlatkin reiterated Coinbase's stance on wash-sale rules, highlighting the complexity of tracking violations in a 24/7 trading environment, and recommended an 18 to 24-month runway before new rules take effect to avoid reporting errors and a surge in IRS audits.
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Technical Analysis for RECALL
Technical Sentiment Analysis for Recall (RECALL). As of , Recall (RECALL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RECALL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RECALL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Recall (RECALL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0267 | 0.0301 | 0.0331 | 0.0365 | 0.0395 | 0.0429 | 0.0459 |
| Fibonacci | 0.0301 | 0.0325 | 0.034 | 0.0365 | 0.0389 | 0.0404 | 0.0429 |
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