U.S. Senator Proposes New Bill: End Double Taxation on Digital Assets and Set $5,000 Annual Tax Exemption

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[Coin World] On July 12 (UTC+8), U.S. Senator Cynthia Lummis stated in an interview that she has introduced a new encryption tax proposal that will end the unfair double taxation on digital assets and create a fairer competitive environment for the industry. According to her, the bill will eliminate the current system of double taxation on digital assets when identified and resold, aligning it with assets like gold and livestock, which are only taxed upon sale. Additionally, the proposal will establish a tax-free threshold of about $5,000 (de minimis) per year, allowing users to enjoy a small tax exemption when using digital money like Bitcoin as a payment method.

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BearMarketHustlervip
· 07-14 17:44
Let's get to work!
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AirdropHunterXiaovip
· 07-14 15:19
Finally, the day has come.
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Ser_Liquidatedvip
· 07-12 02:27
A bit interesting but bullish
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RugPullSurvivorvip
· 07-11 18:29
Five k is considered a start.
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BtcDailyResearchervip
· 07-11 18:25
Support policy relaxation
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MidnightSellervip
· 07-11 18:23
The threshold is too low.
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AirdropNinjavip
· 07-11 18:22
Finally, there's a glimmer of hope.
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Fren_Not_Foodvip
· 07-11 18:12
Finally, it's moving.
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GasDevourervip
· 07-11 18:01
This limit is a bit stingy.
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