Made an ‘honest’ mistake with crypto taxes? New bill offers way out

A proposed US bill would create a dedicated disclosure program allowing crypto investors to correct past tax reporting mistakes with reduced penalties for eligible taxpayers. The measure is only a proposal and has not been enacted, so it does not yet change any filing obligations. Traders would care only if it advances, since clearer penalty relief could reduce compliance risk for holders with unreported crypto activity, but the immediate market effect is minimal.