Block is calling for a $600 tax-free allowance for Bitcoin payments to encourage everyday use.

Jack Dorsey's Block.com launched the "Bitcoin is Everyday Money" initiative, calling for U.S. legislation to establish a tax-free threshold for Bitcoin payments under $600, simplifying the tax burden on everyday small transactions. Current tax law treats Bitcoin payments as asset sales, requiring capital gains tax reporting. Block.com also launched a merchant product within its Square division that supports zero-fee Bitcoin payments, aiming to build a seamless, low-cost payment system.