Tax Policy, Not Technology, Is Blocking Bitcoin Payments, Advocates Say
Senator Cynthia Lummis is identified as the most committed champion of legislation to exempt small Bitcoin transactions from capital gains taxes.
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Senator Cynthia Lummis is identified as the most committed champion of legislation to exempt small Bitcoin transactions from capital gains taxes.
Crypto advocates and the Bitcoin Policy Institute are urging Congress to pass a de minimis tax exemption for small Bitcoin transactions, arguing current IRS reporting requirements for minor purchases stifle the asset's utility as a medium of exchange.
House bill co-sponsor
House bill sponsor
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