A new bill proposed by two U.S. Senators would make cryptocurrency transactions for less than $50 tax-exempt, as well as any gains of less than $50 on personal transactions.
A new bill proposed by two U.S. Senators would make cryptocurrency transactions for less than $50 tax-exempt.
“We’re protecting Arizonans from surprise taxes on everyday digital payments, so as use of digital currencies increases, Arizonans can keep more of their own money in their pockets and continue to thrive,” Sen. Sinema said. See also: Why is crypto crashing? Mark Cuban says ‘crypto is going through the lull that the internet went through’
Some crypto and blockchain organizations support the bill as leaders from Blockchain Association, the Association for Digital Asset Markets, and Coin Center all touted the bill in the release.
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