On October 1, the Senate Finance Committee held a hearing focused on the taxation of cryptocurrencies.
This discussion followed recent actions by the Treasury Department and the Internal Revenue Service (IRS) aimed at simplifying certain tax requirements for large businesses, including those involved in crypto transactions.
The IRS and Treasury released two guidance documents, Notice 2025-46 and Notice 2025-49, on September 30. These documents offered temporary instructions to help companies understand and comply with the Corporate Alternative Minimum Tax (CAMT).
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The CAMT, introduced through the Inflation Reduction Act of 2022 under President Biden, sets a 15% minimum tax rate on the financial statement income of large corporations.
One of the new notices, 2025-49, outlined how to apply the CAMT using parts of the tax code, including Sections 55, 56A, and 59. A key point in this guidance is a provision that allows businesses dealing with cryptocurrencies to exclude unrealized profits or losses from their CAMT calculations if those assets are held at fair value.
This adjustment is designed to prevent companies from being taxed on unrealized changes in value.
The IRS guidance provides businesses with more certainty and reduces the effort required to comply with the current tax framework while final rules are still being developed.
Meanwhile, the US Securities and Exchange Commission (SEC) provided new clarity for investment advisers looking to store cryptocurrency. What does it cover? Read the full story.
