State of Missouri may abolish tax on cryptocurrencies

According to the legislators, the change in taxation will help the development of blockchain technologies

14.02.2022 - 07:55

146

1 min

What’s new? According to an official press release, the legislators in the US state of Missouri are preparing to abolish the property tax for cryptocurrencies. A statement to this effect was made by State Representative Phil Christofanelli.

The full version of the press release

What changes can be introduced? According to Christofanelli, cryptocurrencies should be exempt from property tax and regulation of assets as securities. In addition, cryptocurrency transactions should not be licensed as money transfers to further develop the industry. Bill number 2672 to protect Missouri’s investors, entrepreneurs, and consumers involved in the developing crypto industry has already been registered. The authorities will soon begin discussing the issue and make a final decision.

Recall that previously was mentioned a bill in the US state of Tennessee proposing counties, municipalities, and the state to invest in cryptocurrencies and NFTs.

Author: