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Bipartisan Bill Seeks to Eliminate Taxes on Crypto Transactions Under $50

By: Fiz in 6TH POPE | Recommend this post (0)
Wed, 27 Jul 22 3:15 AM | 25 view(s)
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Msg. 34067 of 60008
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http://decrypt.co/106006/bipartisan-bill-seeks-to-eliminate-taxes-on-crypto-transactions-under-50

Bipartisan Bill Seeks to Eliminate Taxes on Crypto Transactions Under $50
The measure was introduced by senators Patrick Toomey and Kyrsten Sinema.

This might change things A LOT. It would, at least, open the door for crypto to be used in buying and selling -- and holding crypto. Right now it is a nightmare which requires stores to pretty much always immediately convert any crypto to dollars...and even to track an report all people who present crypto.

I looked into buying a little etherium 8 months ago and I chickened out, because of all the data I had to turn over to the exchange (driver license, facial scan, bank account numbers, where I lived, etc. etc.)

Given how things have gone with crypto, I'm glad I didn't go through with purchasing a little...but this would presumably change that....just keep transactions under $50 and you are pretty okay.

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