The Virginia State Senate has introduced Senate Bill No. 339, presenting regulations for digital asset mining and transactions, along with tax incentives. Sponsored by Senator Saddam Azlan Salim, the bill aims to exempt miners from money transmitter licenses and prevents discrimination against mining activities in industrial zones. It proposes an exemption from securities registration for issuers and sellers of digital assets meeting specific conditions. The legislation also encourages cryptocurrency use in everyday transactions by offering tax benefits, allowing individuals to exclude up to $200 per transaction from net capital gains for purchases made with digital assets. The bill is currently under Senate review and, if approved, will move to the House of Delegates for consideration. (Source: Cointelegraph)
