A bill has been introduced to the U.S. Senate that would make small cryptocurrency transactions exempt from capital gains taxes.
What Happened: The Virtual Currency Fairness Act, introduced by Sens. Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ) would establish a de minimis (of little importance) exemption from reporting taxes on purchases made in crypto.
Finbold noted that the bill is part of Toomey’s commitment to helping the crypto sector by using his position in the Senate before retiring at the …
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