Two American senators submitted a bill to the jury proposing that no tax be levied on future small-volume Bitcoin (BTC) transactions.
Nationwide recognized US senators Pat Toomey and Kyrsten CinemaThey are trying to reduce the taxes that will be imposed on Americans every time their cryptocurrencies change hands. Senators with a newly introduced bill Transactions of $50 or less They underlined that no tax should be demanded.
In his statement on the bill, Toomey made the following statements:
While cryptocurrencies have the potential to become a mundane part of Americans’ daily lives, our current tax system prevents it.
This proposed bill will be considered valid for transactions with a value of less than $50. in proportion to the limit inflation to be applied in conjunction with a provision which is subject to change. The bill also “all sales or exchanges that are part of the same transaction (or a series of related transactions) will be treated as a single sale or exchange.” statement was included.
influential members of the US crypto lobby Coin Center, Blockchain Association and Association for Digital Asset Markets companies expressed their support for the bill. Minimum transaction limit to be taxed set at $200 a similar bill was submitted to the parliament in the last two congress sessions, but as a result of the discussions, a clear decision could not be reached.
legislative processes in November It is planned to close before the upcoming midterm elections. of senators November Efforts are underway to pass the bill into law before May.