Sens. Pat Toomey (R-Pa.) and Kyrsten Sinema (D-Ariz.) introduced legislation on Tuesday that would exempt small crypto purchases from a capital gains tax.
The pair of lawmakers introduced a bill that would offer an exemption for personal transactions using cryptocurrency of less than $50 or personal transactions that have gains of under $50 from being subject to a capital gains tax.
The legislation would encourage people to use cryptocurrency for small trades and transactions without worrying about being subject to typical taxation requirements.
Toomey, Sinema eye exempting small crypto purchases from capital gains tax
- by: Caroline Vakil
- 07-26-2022
- Source:
The Hill
- 07/26/2022
Cryptocurrency Coins by Forextime.com is licensed under flickr Attribution 2.0 Generic (CC BY 2.0)
Cryptocurrency Coins by Forextime.com is licensed under flickr Attribution 2.0 Generic (CC BY 2.0)
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