Dennis Porter calls for the promotion of a $200 small-scale encryption transaction tax exemption policy.

PANews, January 26th news, Dennis Porter, co-founder and CEO of Satoshi Action Fund (SAF), stated in a post on X platform that completely canceling the capital gains tax on cryptocurrencies requires congressional legislation, but it is difficult to achieve in the short term. The main obstacle is the impact of tax loss on the fiscal budget. Currently, the top priority of the US government is to continue the tax reduction policy of the Trump era, and any proposal that threatens this policy may be shelved. Porter suggests that the Bitcoin and digital asset industry should focus on promoting a tax-exempt policy for small transactions of $200, consistent with the existing tax-exempt standard for foreign exchange transactions. This would greatly reduce the tax reporting burden for small daily transactions such as coffee, dining, or groceries, while having minimal impact on tax revenue. He emphasizes that this policy has bipartisan support and is a balanced, innovative, and fair solution.   He also suggested linking the tax-free threshold to inflation to ensure the long-term effectiveness of the policy, while calling for input from experts in the encryption industry and tax policy to advance this legislative proposal together.