Block, the company founded by Jack Dorsey, has launched the "Bitcoin is Everyday Money" initiative, advocating for U.S. legislation to introduce a tax-free threshold for Bitcoin payments under $600. This proposal aims to simplify the tax burden on small transactions, which are currently treated as asset sales requiring capital gains tax reporting. Additionally, Block has introduced a new merchant product on its Square platform that supports zero-fee Bitcoin payments, aiming to create a seamless and cost-effective payment system.