A realistic perspective from within the financial industry points out that the biggest barrier preventing Bitcoin from becoming everyday currency lies not in the blockchain, but in outdated legal regulations.
🔸 Analysts asserts that the biggest obstacle to using Bitcoin for payments is not scaling technology, but Tax Policy.
🔸 Analysts uses a sharp metaphor "Even the strongest athlete with a 100% win rate will have a 0% win rate if they don't compete." The lack of a de minimis exemption for small transactions in the US means that even buying a cup of coffee with BTC triggers complex tax reporting obligations.
🔸 The Bitcoin community is reacting strongly to reports that US lawmakers are considering tax exemptions only for USD pegged Stablecoins while ignoring Bitcoin. This is seen as a move stifling the Crypto King potential to become a true medium of exchange.
If tax barriers were removed for transactions under $200, would you be willing to spend Bitcoin daily, or are you determined to HODL to the end for price appreciation?
News is for reference, not investment advice. Please read carefully before making a decision.
