Bryan Solstin claimed that they will make Bitcoin as a legal tender in the whole United States, Obviously in return to get support to become dominant among the all US senate candidates.
In this world, El Salvador became the first ever country to adopt Bitcoin as a currency and now other countries may easily bring Bitcoin law to use in payment systems, if any president like Nayib Bukele, El Salvador president, will exist, under the support of El Salvador approach. However some significant influence has been seen among the Central American countries but it will be a matter of time to see fully independent countries, which will follow the footsteps of El Salvador’s Bitcoin law Act.
In March of this year, Bryan Solstin started to grab huge popularity in the crypto industry, when he declared his candidacy for US Senate and to support Bitcoin to make it a currency in the US.
BeInCrypto recently interviewed Bryan and asked about his plan if he wins his candidacy in the US Senate.
On this question, Bryan said that he will start small steps to make use of Bitcoin. In the initial phases, he will introduce a 0% tax on Bitcoin payment transactions below 200 to 600 dollars worth of transactions.
“We can take baby steps to make it effective, with this I mean 0% tax for bitcoin. We can move the actual exempt levels of 200 to 600 dollars, getting rid of capital gains as this creates friction with the velocity of value, which has large benefits for the wealthy, the poor, or the middle class, it’s beneficial for everyone.”
In this way, he explained that any person will be able to use Bitcoin-based payment options easily without getting any additional charge under laws and also will not be required to pay any tax.
Bryan also asserted that it will not be a big challenge for the IRS because we can deal with this challenge easily with the use of technology and also the IRS considered Bitcoin as property, not currency.