Twitter co-founder Jack Dorsey advocates for tax relief for Bitcoin transactions in the U.S., calling for a “de minimis exemption” to exclude low-value transactions from capital gains reporting. This comes as crypto investors face a complex tax structure that varies by state and the IRS classifies digital assets as property. Meanwhile, Sen. Cynthia Lummis introduces a bill to reform the treatment of digital assets, amid a partial government shutdown slowing down cryptocurrency legislation efforts. Dorsey’s comments coincide with Bitcoin slipping below key support levels, trading at $121,025.

Read more at Yahoo Finance: Jack Dorsey sends strong message on crypto tax