US Lawmakers Introduce 'Virtual Currency Tax Fairness Act' to Boost Cryptocurrency Use for Payments
The bill “would create a workable structure for taxing purchases made with virtual currency, also known as cryptocurrency,” the lawmakers explained. It will also expand the use of cryptocurrency for payments and further strengthen “the legitimacy of virtual currency in our digital economy.” Asserting that the existing law “makes the everyday use of virtual currency near impossible, discouraging people from using it, and inhibiting the growth of our digital economy,” the lawmakers detailed:
Jerry Brito, executive director of cryptocurrency think tank Coin Center, explained: “Today you have to keep track of and report every transaction you make using them, whether it’s a $10,000 investment trade or whether you’re buying a 99¢ song online or a latte at a cafe.” He elaborated:
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After what happened in North Korea, all crypto industry wouled be regulated I guess. But we have a good example of tether and regulations.
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I believe it will get better and better
Fairness for who the traders or the government 🤔
Baloney and cheese, maybe a profit of under $2000, but taxing a smear $200?
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The control freaks need to realize there is no solution's for taxing fractional digital assets. The reason they don't work is the control freaks are not printing the money. You are.
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