🇺🇸🤔 A report indicates that buying coffee with #Bitcoin daily in the US could result in over 70 pages of tax documentation. Cato Institute researcher Nicholas Anthony highlighted that the capital #gains tax on #crypto assets like Bitcoin, classified as "capital assets," may trigger tax and reporting obligations when used for purchases, leading to increased compliance costs and undermining its #use as "currency." He suggested abolishing the capital #gains tax entirely or implementing a "small-amount tax exemption" for daily #crypto transactions. #regulation