Block calls for US legislation to create a $600 bitcoin payment tax exemption
2025-11-19 00:34:13
According to market news, Block, founded by Jack Dorsey, has launched the "Bitcoinis Everyday Money" initiative, calling for US legislation to establish a tax-free threshold for bitcoin payments under $600 to simplify the tax burden on daily small transactions. The current tax law treats bitcoin payments as an asset sale and requires capital gains tax to be declared. Block also launched a merchant product that supports bitcoin zero-fee payments at its Square, aiming to build an intermediary-free, low-cost payment track.
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