Good news for crypto coming from the US. Congress is looking at a bill that would make any gains from a transaction that is under $200 tax free. This would go a long way in being able to use bitcoin as a currency as you can make as many small transactions as you like without having to worry about taxes as well as digital coins like ethereum which are used widely in dapps, a space which requires a lot of mini transactions.
And keep in mind that $200 is not the limit of the transaction (though that is a fairly high number) but it is the limit for gains. The reason it is for gains is money can be lost or gained when trading and thus technically you would have made a profit even though you were just trying to a buy a sword on that new blockchain game. I could be wrong but I think this mens even transactions that are higher than 200 that don't net a huge profit would also be tax free.
This will help open the path in the US to make crypto a currency that is accepted in stores and online. We still need to get regulation sorted out in most places around the world and the states might be signalling that it is time we might see crypto go mainstream and this is how we should go about it.
Next will be Libra which I still think will launch this year despite the negative headlines that are popping up.
But either way I am in no hurry to spend my crypto and am waiting for a good surge in price before I sell any.
Here is the link for more info:
https://www.forbes.com/sites/ktorpey/2020/01/20/new-bill-in-congress-could-have-massive-impact-on-bitcoin-ethereum-and-other-cryptocurrencies/
