With Block’s recent push to encourage Congress to pass a de minimis tax exemption for everyday Bitcoin transactions, it’s crucial to reach out to your representatives and share the message from btcismoney.xyz. However, another vital step is to encourage our family, friends, and neighbors to take action as well. Personally, I’ve noticed that many people I know are unaware of the ease with which they can spend Bitcoin at Square merchants across the country. It’s become significantly simpler to use Bitcoin as money for the everyday person. As cheesy as it may sound, I’ve written this message to my family to motivate them to take action. Whether they choose to do so or not, they’ll be more informed than before and can see tangible social proof that Bitcoin is a legitimate form of money that deserves to be treated as such. Below is what I sent. Take it, tweak it, make it your own, and share it.
“Hey family, I hope you can help out your favorite bitcoiner. Recently, Square terminals have enabled bitcoin payments across the country for 4 million merchants, making it easier than ever to pay with bitcoin for goods and services. This is a significant step towards making bitcoin the everyday money I believe it is. However, there’s still one issue: taxes. Currently, regardless of how many sats you spend, whether it’s for a cup of coffee or a bag of groceries, you’re still taxed on capital gains. That’s why there’s a strong push for a de minimis tax exemption for any bitcoin transactions under $600. This is crucial to enable people across the country to not only use bitcoin easily but also feel comfortable doing so knowing that these tax implications are eliminated. If you have time, I encourage you to reach out to your representatives and urge them to pass legislation for this de minimis tax exemption. You can find your representatives’ contact information and a copy-and-paste message here: https://btcismoney.xyz/“
