U.S. Senators Introduce Bill For Tax Exemption On Small Bitcoin Transactions Today

47

  • The Virtual Currency Tax Fairness Act seeks to provide tax exemption for transactions up to $50 or trades which net a capital gain of less than $50.
  • Senators Patrick Toomey and Krysten Sinema will introduce the bill today.
  • A House bill was previously introduced with a threshold of up to $200 this past February under the same name.

The Virtual Currency Tax Fairness Act is being introduced today by Senator Patrick Toomey (R-PA) and democratic Senator Krysten Sinema (D-AZ) to provide tax exemption for bitcoin transactions up to $50, or trades which net a gain of up to $50, according to CNBC.


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More