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Bill To Exempt Small Cryptocurrency Transactions Taxes Has Been Reintroduced To Congress
Summary: A bill that seeks exemption from taxation for cryptocurrency transactions made for capital gains has been reintroduced in the Congress of the United States. The bill, dubbed the “The Virtual Currency Tax Fairness Act of 2020,” would provide exemption for virtual currency expenditures that qualify as personal transactions. Users would then not have to report ...
A bill that seeks exemption from taxation for cryptocurrency transactions made for capital gains has been reintroduced in the Congress of the United States.
The bill, dubbed the “The Virtual Currency Tax Fairness Act of 2020,” would provide exemption for virtual currency expenditures that qualify as personal transactions. Users would then not have to report instances where they spent crypto whose valued had changed relative to the U.S. dollar on day-to-day expenses. The bill was reintroduced by Representatives Suzan DelBene (D-WA) and David Schweikert (R-AZ) on Thursday.
By Janelle Fox
Tags: Bill,Congress,Cryptocurrency,Taxes,U.S. Congress
Link: Bill To Exempt Small Cryptocurrency Transactions Taxes Has Been Reintroduced To Congress [Copy]
