Executives at Coinbase have denied allegations that the crypto trade is obstructing a de minimis tax exemption for Bitcoin (BTC) transactions under a sure threshold to push for stablecoin tax exemptions.
A number of Bitcoin advocates speculated on social media that the trade instructed US lawmakers {that a} BTC tax exemption isn’t wanted as a result of BTC isn’t extensively used as a medium of trade.
Coinbase CEO Brian Armstrong responded by calling the allegations “completely false” and a type of misinformation.
“I’ve spent a bunch of time lobbying for Bitcoin’s de minimis tax exemption, and can proceed doing so. It is clearly the proper factor,” he said.
In separate posts, Paul Grewal, chief authorized officer at Coinbase, said, “We’ve by no means lobbied towards BTC,” whereas Faryar Shirzad, the crypto trade’s chief coverage officer, echoed the assertion.
Cointelegraph reached out to Coinbase, however the firm declined to remark past the responses made by its executives.
Tax coverage is without doubt one of the essential impediments to Bitcoin’s use as a payment method, in accordance with advocates for the most important crypto, as each sale or switch would set off a taxable occasion, prohibiting its use as an digital money system.
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In July 2025, US Senator Cynthia Lummis launched a bill proposing a de minimis tax exemption for cryptocurrency transactions of $300 or much less, with a $5,000 annual exemption cap.
Nonetheless, the invoice failed to achieve traction, and the de minimis exemption for BTC transactions is not included in the CLARITY Act draft laws, in accordance with advocacy group the Bitcoin Coverage Institute.
As a substitute, the tax exemption will apply solely to US dollar-pegged stablecoins, according to Conner Brown, the managing director for the Bitcoin Coverage Institute.
Washington, DC-based crypto advocacy group Blockchain Affiliation additionally outlined a crypto tax proposal and submitted the plan to US lawmakers in February.
The proposal known as for exemptions on “low-dollar” crypto transactions, however didn’t specify a greenback quantity.
“A significant de minimis exemption for digital asset transactions would remove disproportionately onerous reporting for particular person taxpayers,” the proposal said.
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Cointelegraph by Vince Quill Coinbase Execs Say They Aren’t Opposing BTC Tax Exemption cointelegraph.com 2026-03-12 18:54:28
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