U.S. Senators Introduce Bill For Tax Exemption On Small Bitcoin Transactions
The bill would provide tax exemption on bitcoin transactions for less than $50 or trades netting a gain of less than $50.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....
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A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50.
New ‘Virtual Currency Tax Fairness Act’
A new bipartisan bill, known as the “Virtual Currency Tax Fairness Act,” was introduced in Congress Tuesday by Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ).
According to the announcement by the U.S. Senate Committee on Banking, Housing, and Urban....
Two U.S. senators have introduced a bipartisan bill aimed at improving the oversight of cryptocurrency. The bill requires the Treasury Secretary to submit a report to Congress on cryptocurrencies and their competitiveness globally, including how other countries are using and mining them as well as their impacts on supply chains.
New Bill Introduced to Improve Oversight of Cryptocurrencies and Their Uses Globally
Senator Maggie Hassan, a member of the Senate Homeland Security and Governmental Affairs Committee, and Senator Joni Ernst introduced legislation on cryptocurrency....
A bipartisan team of US senators is introducing a bill to clarify what entities should report cryptocurrency transactions to the IRS.
Senators Cynthia Lummis and Kirsten Gillibrand will introduce the Responsible Financial Innovation Act for regulatory clarity for bitcoin and cryptocurrencies.
Four U.S. senators are introducing a bill to place sanctions on Russia’s gold. “This legislation would deter the purchase of Russian gold and close this loophole that allows the Russian Federation to soften the financial impact of sanctions,” the senators explained. “By sanctioning these reserves, we can further isolate Russia from the world’s economy and increase the difficulty of Putin’s increasingly-costly military campaign.”
US Lawmakers Seek to Sanction Russia’s Gold
U.S. Senators John Cornyn (R-TX), Maggie Hassan....