Saw some fud about Rep. Jared Polis being spread. Do you realize he's literally trying to make cryptocurrency transactions of $600 tax exempt?
>People who use digital currency such as bitcoin for small purchases face a big problem: Under current tax rules, any little transaction—like buying a cup of coffee—can be considered a capital gain, and trigger an obligation to the IRS.
>A solution may be on the way, however, in the form of a bipartisan bill introduced in the House of Representatives on Thursday by Rep. Jared Polis (D-Co) and Rep. David Schweikert (R-Az). Titled “The CryptoCurrency Tax Fairness Act,” the bill calls for Congress to create a so-called de minimus exemption for transactions under $600.
>If the bill is passed, it would subject digital currency to a similar tax regime as what currently exists for foreign currency. It would also eliminate a disincentive for people to use bitcoin (and other digital assets like Ethereum and LiteCoin) in day-to-day transactions.