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The Ugly Side of Crypto Trade Trends

In January 2019, the Massachusetts Senate launched S.B. 1762, which is “An Act related to the market assortment of product sales tax.” Accordingly, if a person or business provides “a digital currency that patrons are allowed or required to make use of to buy products from the seller,” then they can qualify as a “market facilitator” for gross sales tax functions. S.B. 1762, 191st Gen Ct. (Mass. 2019). An act making appropriations for the fiscal yr 2020 includes a distant nexus gross sales and use tax provision, along with market facilitators who allow gross sales by way of digital forex that patrons are allowed or required to use to purchase products from the seller. See, e.g., H.B. 1, 191st Gen….

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