Cryptocurrency

US May Exempt Crypto Transactions Under $50 From Taxes Under New Bipartisan Bill

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US May Exempt Crypto Transactions Under $50 From Taxes Under New Bipartisan Bill

A new bipartisan bill has been introduced in the US Senate that allows tax exemption for crypto transactions under $50 (roughly Rs. 4,000), done for personal uses like paying for goods and services. The name of this bill is the “Virtual Currency Tax Fairness Act”. The proposal aims to make the day-to-day use of cryptocurrencies easier for the people of the US.

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