U.S. Congressman Introduces Bill for Bitcoin Tax Payments, Eliminating Capital Gains

A new bill from U.S. Congressman Warren Davidson aims to revolutionize the American tax system by integrating Bitcoin into federal payments and reserves. Known as the ‘Bitcoin for America Act’, this legislation permits Americans to pay their federal taxes using Bitcoin. This eliminates capital gains tax on those transactions, bringing Bitcoin closer in status to traditional fiat currencies within the financial system.