According to @WatcherGuru, U.S. Senator Cynthia Lummis said she is working to eliminate taxes on small Bitcoin transactions. Source: https://twitter.com/WatcherGuru/status/1976097558666813879 Under current IRS guidance, spending cryptocurrency is treated as a taxable disposition of property, meaning even small purchases can trigger capital gains reporting. Source: IRS Notice 2014-21 at irs.gov For traders, the key variables to monitor if legislation is introduced are the de minimis threshold, any inflation indexation, and the effective date, as these determine how many everyday BTC payments would avoid capital gains reporting. Source: prior de minimis legislative summaries on congress.gov and IRS Notice 2014-21 at irs.gov