Jack Dorsey Wants A Tax Exemption On Everyday Bitcoin Transactions — Cynthia Lummis Points Toward A Bill She Introduced
Posted On October 10, 2025
Sen. Cynthia Lummis (R-Wyo.) backed Block Inc. (NYSE:XYZ) CEO Jack Dorsey’s call for tax relief on Bitcoin (CRYPTO: BTC) transactions on Thursday, citing a supportive legislation she introduced earlier.
‘De Minimis Tax Exemption’
Dorsey advocated for a “de minimis tax exemption” on everyday BTC payments, backing an argument that routine purchases, like buying coffee, shouldn’t trigger capital gains.
Lummis quoted his post, saying, “If only we had a ₿ill for that… Oh, wait,” suggesting that a bill she introduced in June already addresses these concerns.
What Does Lummis’ Bill Say?
The bill seeks to exempt gains from small transactions, up to $300 per transaction, with an annual cap of $5,000 per individual. The legislation has been read twice …
About The Author
