How could state-level legal tender legislation pave the way for federal reform regarding capital gains taxes on transactional bullion?
Founder & CEO at Glint Pay
By legally classifying gold and silver as authorized state currency, state legislatures create strong leverage for federal reform. It is fundamentally contradictory for the United States Treasury to mint legal tender bullion coins while the Internal Revenue Service taxes those same coins as collectibles. In the United Kingdom, sovereign bullion coins like the Britannia are exempt from capital gains tax. As more states recognize precious metals as currency, it opens a direct path to challenge and eliminate federal capital gains taxes on transactional bullion.
This answer is part of a full interview with Jason Cozens, Founder & CEO at Glint Pay.
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