Tuesday, January 09, 2018

An interesting development out of the state of Vermont:
"In addition to mandating several reports on cryptocurrencies and blockchain, it notably outlines how the state could classify certain firms as "digital currency limited liability companies," particularly those that operate their own networks.

Those companies would, if the bill is approved, be required to pay "in the form of its digital currency a transaction tax equivalent to $0.01" whenever a new unit of cryptocurrency is created, traded or transferred." [emphasis added]
That's the first government entity at any level in the U.S. I've heard of that is seeking a crypto tax payable in crypto.

This is a tiny amount of money, but it's a huge development.

The full article at Coindesk can be read here.

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