Crypto News: U.S. Senators Introduce Bill For Tax Exemption On Small Bitcoin Transactions

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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 i ...

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