Why This New Act of Congress Could Drive Crypto Adoption

The taxation of crypto assets may well be hindering their adoption in the United States. Deemed a commodity by the CFTC and property by the IRS, each time an individual makes a purchase with a digital currency, they are almost certainly creating a taxable event.
Striving for more practical taxation regulations for crypto assets is Washington-based Coin Center. The non-profit worked with members of Congress to introduce a bill that, if passed, would allow low value transactions to be tax exempt.