The state of Rhode Island examines a law which would allow residents to sell up to $ 10,000 Bitcoin per month without paying state tax. This project, led by Senator Peter Appollonio, marks one more turning point towards the adoption of Bitcoin in the United States.
Pro Bitcoin legislation in the state of Rhode Island
One of the main brakes on the adoption of Bitcoin remains the taxation linked to taking profit. In France, the gains are subject to flat tax of around 30 %, forcing each individual to calculate the added value produced on the whole of his portfolio at the time of the transfer of the BTC.
A real administrative nightmare, which could also become a formidable weapon against Bitcoin and its users. A simple hardening of taxation would be enough to dissuade new entrants or to severely sanction those who make mistakes in their declarations.
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The American state of Rhode Island seems determined to Raise these obstacles by proposing an exemption from taxes on the capital gains made in Bitcoin, up to $ 10,000 per month.
Extract from Bill S0451
It is in the bill S0451 that Senator Peter Appollonio introduces this major change into taxation applied to Bitcoin. If this law was adopted, Residents of Rhode Island could exclude from their taxable income the gains made by up to 10 monthly transactions, each exceeding $ 1,000 in bitcoin.
Although this limit does not allow to live fully according to a Bitcoin standard, by making several payments per day, it however offers greater flexibility. It authorizes regular sales, exempt from taxes, to cover daily expenses up to $ 10,000 per month.
It is also important to emphasize that this proposal clearly distinguishes bitcoin from other cryptocurrencies, which are not affected by this measure.
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The United States could indeed become the capital of Bitcoin
The state of Rhode Island also studies a bill aimed at creating a Bitcoin strategic reserve.
At the beginning of March 2025, Donald Trump had formalized by executive decree the creation of a Bitcoin national reserve, fueled by the judicial seizures led by the Department of Justice (DOJ). However, no official communication or fundraising has been observed since this announcement.
To read also in the news – Taxes 2025: here are the dates not to be missed for each department
The question of Bitcoin strategic reserves is also played on the states scale. To date, 24 US states have tabled bills in this sense, currently under study. Among them, Arizona, Oklahoma and Texas are the most advanced in the legislative process.
Other legislative initiatives concerning Bitcoin are also under discussion across the country: some are intended to protect the right to self-preservation (Self-Custody), to supervise the mining activity or to authorize the payment of taxes in cryptocurrencies.
In total, 97 Bitcoin laws have been introduced through the United States.
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Source: Rhode Island
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
First attracted by the bait of gain, I am now trapped Deep the Rabbit Hole. Without a way out, I just have to share my knowledge and transmit the passion I have for Bitcoin. I am also the creator of Adopt A Block, an educational site dedicated to Bitcoin.
Marius Farashi Tasooji
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