House proposes Bill to exclude small crypto transactions from taxes

This bill proposed in the House of Representatives really highlights the desire to make crypto payments go mainstream.

Intercoin has been working hard to make sure we will take care of everything needed for crypto support payments that are as usable as cash:

  • Technology (scalability, privacy, existing infrastructure, etc.)
  • Regulations (staying compatible with securities laws, including by maintaining pegs)
  • Liquidity (no need to list each community coin on centralized exchanges)
  • Adoption (building payment system on top of existing community apps, and we already have the userbase)

Just issue your token and let your members start using it to pay one another, and pay local merchants. Let your attendees, alumni and donors buy and send these tokens to your community.

It seems that various people in the Federal government are realizing that the USA needs to get out of the way of letting crypto power payments.

Payments is how crypto gets mass adoption. The crypto world needs to stop being happy with a store of value and start moving to scalable architectures that are decentralized and secure. Otherwise, the payment revolution will happen entirely with Facebook, Amazon, Telegram, and other centralized networks.

Under 200$ is most personal transactions. The bill was much needed and a good part of a legal infrastructure that has to be built out

Looks like there might be some crypto crackdowns coming though. It seems that the current administration does not view the crypto world fondly. We’ll have to see exactly what comes of this:

There’s a limit on how much regulators can enforce though. Fiat gateways sure, but I just don’t see how crypto to crypto transactions can be effectively regulated.