Square founder Jack Dorsey has called for a simplification of Bitcoin taxation, proposing a de minimis exemption for small transactions. He believes this would make Bitcoin more practical for daily use and aligns with the goal of transitioning to ‘everyday money’ within a user-friendly framework. This proposal comes as Square integrates Bitcoin payments into its checkout systems, aiming to increase adoption. Senator Cynthia Lummis has joined Dorsey’s call, proposing an exemption for transactions under $300 with a total annual cap of $5,000. These measures aim to alleviate the current complexity and burden of reporting on small Bitcoin payments, which currently serves as a barrier to widespread use in the U.S.