Jack Dorsey and Lummis promote tax exemption for small Bitcoin transactions, while Blockchain expands BTC payment services

Block founder Jack Dorsey called for the establishment of a "small tax-exempt" policy for daily Bitcoin transactions, and U.S. Senator Cynthia Lummis responded that it is "being promoted" and called on the public to contact their legislators for support. The proposal was not passed in Trump's bill in July. Dorsey also announced that Block will launch Bitcoin payment and cryptocurrency wallet services for small and medium-sized enterprises. The industry believes that tax exemption can reduce reporting burdens, but complementary regulatory and exchange mechanisms are still needed to promote applications.