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Deep Tide TechFlow News. On April 16, according to Cointelegraph, the public policy think tank Cato Institute (Cato Institute) in Washington, D.C., United States, said that the U.S. should abolish capital gains taxes on cryptocurrencies such as Bitcoin to reduce the burden of tax filing and promote currency competition.
Researcher Nicholas Anthony said that the current tax system suppresses the use of cryptocurrencies as a means of payment, because users may trigger taxable events when using cryptocurrencies to purchase goods and services, and it increases filing complexity. The report also noted that possible measures include exempting capital gains tax on payments for goods and services, or setting a minimum taxation threshold.