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1 sat \ 2 replies \ @blocktock 26 Jul 2022 \ on: U.S. Senators Propose Bill To Make Crypto Transactions Under $50 Tax-Free bitcoin
Fingers crossed this doesn't pass.
Especially given bills rarely get repealed. In a few years with the resumption of an expanding money supply, it'll mean a heavy burden tax liability for anyone interacting on/with Bitcoin.
That said, good luck policing & enforcing this at scale, when $50 = $1.
Its already (legally speaking) taxed. This bill just carves out an exemption. At best, all you're saying is it'll be of no impact.
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Agreed. This ain't it. 🤣
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