Jack Dorsey Advocates for Reduced Tax Burden on Small Bitcoin Transactions

Square founder Jack Dorsey has called for a tax break on low-value Bitcoin transactions, aiming to make cryptocurrency more practical for everyday use. He believes that removing capital gains taxes on small purchases would facilitate wider adoption of Bitcoin as a medium of exchange within the U.S. This aligns with Square’s recent integration of Bitcoin payments into its checkout systems, and comes at a time when Senator Lummis proposes a similar exemption for transactions under $300. 💰