CoinVoice has learned that several Bitcoin advocacy organizations, including the Bitcoin Policy Institute, recently jointly wrote to U.S. Congress tax leaders, urging to expand the minimum exemption scope to include Bitcoin and major network tokens, not just stablecoins. The alliance proposed to treat stablecoins that meet the GENIUS standard with cash-like benefits, while setting a $25 billion market cap threshold for eligible network tokens to determine which tokens qualify for exemptions. They also stipulated a single transaction limit of $600 and an annual cap of $20,000.
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CoinVoice has learned that several Bitcoin advocacy organizations, including the Bitcoin Policy Institute, recently jointly wrote to U.S. Congress tax leaders, urging to expand the minimum exemption scope to include Bitcoin and major network tokens, not just stablecoins. The alliance proposed to treat stablecoins that meet the GENIUS standard with cash-like benefits, while setting a $25 billion market cap threshold for eligible network tokens to determine which tokens qualify for exemptions. They also stipulated a single transaction limit of $600 and an annual cap of $20,000.