hold on there's just too much going on in Congress lmao...
Exempts small crypto gains/losses from tax.
Sponsor: Sen. Ted Budd (R-NC)
Introduced in Senate, referred to Finance Committee.
This bill amends the tax code to exclude from income any gain or loss from selling or exchanging virtual currency (like Bitcoin) if the transaction value is $200 or less. It applies to purchases of goods or services, not to cash-outs or business use. The threshold adjusts for inflation after 2027. Sen. Budd introduced it on March 24, 2026, and it awaits committee review.
Introduced Mar 24, 2026
This bill has been introduced in its chamber of Congress. It has been assigned a bill number and referred to a committee for review. Most bills never advance past this stage. The committee may hold hearings, gather expert testimony, and amend the bill before deciding whether to send it to the full chamber for a vote.
For everyday buyers, using crypto for small purchases like coffee or a sandwich would not trigger a tax event, simplifying record-keeping. However, if you convert crypto to cash or stablecoins, that transaction is not exempt. Businesses using crypto in their trade are still fully taxed. The $200 limit applies per transaction, but related transactions are aggregated.
Supporters Say
Supporters say it eases tax compliance for small crypto transactions, encouraging everyday use.
Critics Say
Critics argue it creates a tax loophole and reduces revenue without clear benefit.
Supporters point out that reporting tiny gains is burdensome and discourages crypto as a payment method. Critics worry that the $200 threshold is arbitrary and could be exploited for tax avoidance, and that the revenue loss should be weighed against the benefit.