Coinbase exec calls for tax exemption on small BTC payments

Lawrence Zlatkin, Coinbase's vice president of tax, has proposed that the U.S. Congress introduce a capital gains tax exemption for small Bitcoin (BTC) payments. He argued that Americans should not have to hire an accountant simply to buy a pair of jeans with BTC. Under current U.S. tax law, purchasing goods or services with BTC is considered a disposal of an asset, which requires the calculation and reporting of capital gains tax.