[Block Calls for $600 Tax-Free Threshold for Bitcoin Payments to Promote Everyday Use] According to PYMNTS, Block, a company founded by Jack Dorsey, has launched the 'Bitcoin is Everyday Money' initiative, advocating for U.S. legislation to establish a tax-free threshold for Bitcoin payments under $600 to simplify the tax burden on small daily transactions. Current tax laws treat Bitcoin payments as asset sales, requiring the declaration of capital gains tax. Block has also introduced a merchant product under its Square brand that supports zero-fee Bitcoin payments, aiming to build an intermediary-free, low-cost payment infrastructure.