Senators Toomey and Sinema introduce a bill to exempt crypto users from being taxed on transactions of under $50, similar to a bipartisan bill in the House
https://www.coindesk.com/... This is exactly what we need for micro payment services like @droppcc. Do we really want to complete tax form 8949 every time we buy that “cup of coffee” or spend $10 at @Shopify? Lets pass this bill, it's good for @Hedera, it's good for crypto. ℏ
We support another thoughtful and bipartisan crypto bill. The bill introduced by @SenatorSinema & @SenToomey is an excellent example of forward thinking crypto legislation, which is critical to keeping the U.S. as the hub of innovation and web3 leadership. https://twitter.com/...
We applaud the bipartisan leadership of @SenToomey and @SenatorSinema. With 1 in 5 Americans holding or using crypto, greater regulatory clarity will support the industry's next stage of growth. https://www.banking.senate.gov/ ...
The point isn't to tax-advantage crypto spending. It's to treat it the same as other foreign currency: “a sensible de minimis exemption from capital gains tax for low value cryptocurrency transactions in day-to-day use”. Sensible indeed! https://www.coincenter.org/...