Key facts
- Coin Center's Director of Policy is advocating for a de minimis tax exemption on Bitcoin transactions.
- Coinbase's VP of Tax has proposed a de minimis tax exemption for Bitcoin transactions to lawmakers.
- The proposal seeks to extend existing de minimis tax exemptions to digital assets.
- Advocates argue Bitcoin has established use cases in the economy.
Coinbase's Vice President of Tax has formally requested that U.S. lawmakers extend a de minimis tax exemption to include Bitcoin transactions, a concept typically applied to small-value goods imported without duties or taxes. This mirrors an earlier call from Coin Center's Director of Policy. Both advocate for the exemption to simplify everyday purchases with digital assets, arguing that Bitcoin and similar cryptocurrencies have established use cases within the economy.