Some American politicians want you to pay no taxes....at all....on small crypto payments. Does this mean we can finally buy coffee with Bitcoin, guilt-free? ☕
Buying that mythical cup of coffee using crypto might be about to get a little bit easier.And, if a transaction generates a gain of under $50, there would be no need to inform the Internal Revenue Service.
It's hoped these measures would make cryptocurrencies more practical as an everyday method of payment — that being said, no law could tackle the levels of volatility seen in major digital assets.Senators Cynthia Lummis and Kirsten Gillibrand unveiled the Responsible Financial Innovation Act. Both politicians argue "most digital assets are much more similar to commodities than securities" — a stark contrast to the stance taken by SEC chair Gary Gensler.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Senators Push Bill to Make Small Crypto Transactions Tax-FreeJUST IN: SenToomey and SenGillibrand would like to lift your tax burden with a new bill exempting crypto transactions below $50 from capital gains tax reporting rules. jesseahamilton reports
Read more »
American Express Is Granting $1 Million To Back Historic Small RestaurantsAmerican Express and the National Trust For Historic Preservation are giving 25 historic independent U.S. restaurants $40,000 grants to put towards physical improvements and operating expenses.
Read more »
American Express Is Granting $1 Million To Back Historic Small RestaurantsAmerican Express and the National Trust For Historic Preservation are giving 25 historic independent U.S. restaurants $40,000 grants to put towards physical improvements and operating expenses.
Read more »
Cute Small Tattoos You Can Show Off In Summer | Fashionisers©Cute small tattoos are the most trendy designs that most people love. The technique for creating these tattoos is also very simple. Small tattoos shouldn't be
Read more »
Michigan minimum wage increase could hurt small businesses, says restaurant ownerChris Weavers, the owner of JW’s Food & Spirits, in Grand Haven, Michigan, tells “Fox & Friends” about how the state’s expected minimum wage increase “is not going to be good.”
Read more »