Email your representative to eliminate capital gains tax on bitcoin payments under $200.
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We need tax policy to catch up to innovation and recognize bitcoin's utility as a medium of exchange. Under current rules, every bitcoin payment is taxed as if you were selling stock. A de minimis exemption would fix that, treating payments like money, not an investment.
Bitcoin is the world's first decentralized digital currency, designed to be a peer-to-peer electronic cash system. Like money, it has utility as not only a store of value — but also a medium of exchange.
It's the most secure, decentralized, and widely adopted digital currency. Borderless, scarce, divisible, durable, portable, interchangeable, verifiable, and independent.
Anyone with an internet connection can use it, providing financial access without intermediaries.
It means bitcoin payments under a certain threshold, such as $200, would not trigger capital-gains tax. It recognizes the dual utility of bitcoin as not only an investment, but also a medium of exchange. It treats bitcoin purchases for goods and services like everyday spending.
It reflects many real-world everyday purchases like coffee, meals, rides, gas, groceries, and keeps the threshold meaningful but manageable. De minimis thresholds should also be adjusted to inflation, to ensure they remain meaningful in the future.
Everyday taxpayers who want to pay with bitcoin. Less paperwork, fewer tax barriers, and more financial privacy. Using bitcoin to pay for items such as a cup of coffee shouldn't be a reportable line item to the IRS. It also reduces friction in mainstream adoption of bitcoin as a seamless method of payment.
No. This is not a change to investment tax rules broadly or sales tax. It's a narrow exemption for everyday bitcoin payments for goods and services.
While this initiative is focused on bitcoin, a de minimis policy adopted by Congress would likely be tech-neutral and apply to all digital assets - including bitcoin.
Yes, payments usability and the modernization of tax law has drawn interest and support from both sides of the aisle.
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