00:00 Speaker A

If you’ve ever uh owned crypto in the United States or especially used it, you know how difficult it is to understand what you’re doing according to the IRS tax code. So, this is the first one and the most basic problem that this addresses is small transactions. In this case, it would exempt qualifying crypto fees worth $10 or less from capital gains calculations. Now, since Bitcoin and crypto including stable coins

00:20 Speaker A

are viewed as property effectively in the United States or an asset. If you buy coffee with Bitcoin for $2, you now have a taxable sale of that Bitcoin. Either you’re up and you need to pay capital gains or you’re down and it’s a right off, but you have to calculate every…