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Senator Lummis seeks to end taxes on small Bitcoin payments
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12 Articles
Senator Cynthia Lummis introduced a bill to ease tax on payments in Bitcoin. An initiative welcomed by the community, notably by Jack Dorsey, who called the day before for an exemption for small transactions. The article Tax Exemption on Bitcoin in the United States: Cynthia Lummis' shock proposal in the Senate appeared first on Cryptoast.
Bitcoin News: Cyntia Lummis Seeks De Minimis Tax Break for Bitcoin, Backs Dorsey - The Market Periodical
Key Insights Bitcoin news: Under Senator Lummis’s plan, capital gains tax would not apply to small Bitcoin transactions. According to economic research and Jack Dorsey’s support, the exemption could lead to a 15–25% increase in Bitcoin usage. Critics caution that the exemption may lower anticipated tax revenue, and the IRS may struggle to enforce it. U.S. Senator Cynthia Lummis shared on X that she’s developing a de minimis tax exemption for Bi…
Dorsey, Lummis Push for Bitcoin Tax Relief as Block Expands BTC Payments - WorldNL Magazine
In brief Block founder Jack Dorsey tweeted a call for a de minimis tax exemption on everyday Bitcoin transactions, prompting Sen. Cynthia Lummis to reply she's "Working on it." Lummis urged supporters of the tax exemption to contact their representatives. The exemption was part of crypto tax reforms that failed to make it into Trump's reconciliation bill in July when pro-crypto senators ran out of time before the vote. Block founder Jack Dorsey …
Jack Dorsey Calls for Tax Exemption on Small Bitcoin Transactions
Bitcoin advocates and industry leaders are increasingly calling for reforms to make cryptocurrency more practical for everyday use. At the forefront is Jack Dorsey, founder of Square, who has proposed a de minimis tax exemption for small BTC transactions to facilitate its adoption as a medium of exchange. Meanwhile, U.S. policymakers and crypto industry supporters are debating the potential impact of such tax exemptions on fostering innovation a…
Jack Dorsey Calls For U.S. Tax Relief On Bitcoin Payments - FinanceFeeds
Dorsey Pushes for Everyday Bitcoin Use Jack Dorsey, founder of Square, called for a de minimis tax exemption on small Bitcoin transactions to make the cryptocurrency more practical for daily use. “We want Bitcoin to be everyday money ASAP,” he said on Wednesday, after Square integrated Bitcoin payments into its checkout and point-of-sale systems. The proposal would remove the capital gains burden on low-value Bitcoin payments, a long-standing ob…
Lawmaker’s Proposal Aims to Make Small Bitcoin Buys Tax-Free in US
Sen. Cynthia Lummis said she is drafting legislation to exempt small bitcoin transactions from capital gains taxes, responding to a suggestion from tech entrepreneur Jack Dorsey. Sen. Lummis Works on De Minimis Rule for Bitcoin Transactions The Wyoming Republican, Sen. Cynthia Lummis, a vocal cryptocurrency advocate, announced the effort on Oct. 9, 2025, aiming to […]
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