Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Block calls for a $600 tax-exempt threshold for Bitcoin payments to promote everyday use.

PANews, November 19, reported by PYMNTS, that Block, a company founded by Jack Dorsey, has initiated the “Bitcoin is Everyday Money” campaign, calling for U.S. legislation to establish a tax-free threshold for Bitcoin payments under $600, simplifying the tax burden for everyday microtransactions. The current tax law treats Bitcoin payments as asset sales, requiring the declaration of Capital Gains Tax. At the same time, Block has launched a merchant product under Square that supports zero-fee Bitcoin payments, aimed at building a no-intermediary, low-cost payment track.

BTC0.18%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)