The United States has taken new action again. A senator from a certain state recently submitted a new bill to the Finance Committee, with the core idea of providing local residents and small to medium-sized businesses with a nice incentive — temporary state income tax and capital gains tax exemptions for Bitcoin transactions. It sounds quite attractive, but there is a cap: a maximum of $5,000 per month and a yearly limit of $20,000.

This approach actually reflects a gradual change in the attitude of US local governments towards crypto assets. By offering tax incentives to attract users to participate in Bitcoin trading, it indirectly promotes the local digital economy ecosystem. For retail investors and small businesses, such policies can indeed reduce transaction costs. Whether it can ultimately become law depends on subsequent committee discussions and voting results.