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Is there any initiative to try to deal with the way Bitcoin is taxed in the United States with respect to using Bitcoin to pay for things without triggering a taxable event? Possibly a threshold being set for purchases below a certain amount?

Murch
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ADH
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1 Answers1

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HR 3708, which was introduced in the House of Representatives in September 2017, would do exactly that, with a threshold of $600 (to be adjusted for inflation). It has five cosponsors.

It was referred to the Committee on Ways and Means, and there is no record of further action, so apparently the Committee decided not to move forward with it.

Nate Eldredge
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  • Great thank you very much for the information. At least congress is aware of these types of issues and is (somewhat) working towards a solution. I will keep my eye on this space! – J. Roibal - BlockchainEng Jul 18 '18 at 06:06