A new bill introduced in the U.S. Congress aims to allow Americans to pay taxes using Bitcoin without incurring capital gains tax. Congressman Davidson, who discussed the proposal, emphasized that the bill would also centralize custody of seized Bitcoin under the U.S. Treasury, addressing issues of lost private keys across federal agencies. The legislation seeks to treat Bitcoin as currency for tax payments and codify an executive order on handling seized digital assets.
In a related development, Brazil's Congress is considering a bill to gradually acquire 1 million BTC over five years under a program called RESbit. This proposal aims to expand Brazil's strategic Bitcoin reserve, potentially making it one of the largest holders of Bitcoin globally. The bill is still pending approval.
U.S. Bill Proposes Tax Payments in Bitcoin Without Capital Gains Tax
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