Rhode Island Proposes Tax Exemption Bill for Bitcoin Transactions Up to $5,000 Monthly

2026/01/15 16:41 (Updated 2026/01/16 05:00)

CoinPost

Written by Enzo

Rhode Island Proposes Tax Exemption Bill for Bitcoin Transactions Up to $5,000 Monthly

Aiming to Promote Everyday Transactions

On January 14, it was revealed that a bill exempting Bitcoin (BTC) transactions from state taxes has been introduced in Rhode Island.

State Senator Peter A. Apollonio submitted Senate Bill S2021 on January 9, which proposes tax exemptions on Bitcoin trading for individuals and businesses within the state up to $5,000 monthly (approximately 790,000 yen) and up to $20,000 annually (approximately 3.16 million yen).

The bill is currently under review by the Senate Finance Committee and, if passed, will be effective from January 1, 2027, to January 1, 2028.

In the United States, federal taxes are applied to transactions involving cryptocurrencies such as Bitcoin...

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