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RE: Senate proposal to not tax crypto transactions below $50

in LeoFinance2 years ago

I don't know how they will get around the divisibility aspect. Like you point out, there will be a lot of $50 transactions. Larger purchases will potentially be broken down into sub-purchases. Left-rear-tyre, left-windscreen-wiper etc etc.

You could also realise all your gains tax-free by buying and reselling $50 items. Like NFTs.

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That works fine on minute level, but once you start dealing with big amounts it just isn't doable.