Crypto News: Senators Propose Bill Exempting Crypto Tax for Transactions Under $50

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In the United States Senate, a bipartisan bill has been introduced to eliminate the burden of paying crypto tax, especially capital gains tax, on cryptocurrency transactions of $50 or less. What exactly does the Virtual Currency Tax Fairness Act entail? Speaking about the bill, it’s the Virtual Currency Tax Fairness Act that exempts small crypto transactions from tax. Whereas Republicans Pat Toomey and Kyrsten Sinema introduced it, it’s not the first of its kind. In the past, a bill ...

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