The Responsible Financial Innovation Act introduced by Sens. Cynthia Lummis and Kirstin Gillibrand would exempt cryptocurrencies that are below $200 from capital gains taxes. Here’s what you need to know.
What Happened: After extensive dialogue on cryptocurrency taxation, this legislation seeks to permit under $200 worth of cryptocurrency gains free of taxation.
Lummis and Gillibrand initially suggested an exemption range of up to $600, which has now been revised down to $200. A key factor in this legislation with regard …
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