Bitcoin Lobby Split Over US Tax Bill Favoring Stablecoins
The Bitcoin Policy Institute accused US lawmakers of creating a two-tier tax system after reviewing draft crypto legislation that offers stablecoin transactions a ₱12,050 ($200) de minimis exemption while leaving Bitcoin fully taxable.
Key Takeaway
Stablecoins get tax relief while Bitcoin faces full capital gains — lobby war exposes crypto industry's fractured priorities.
Bitcoin Policy Institute, a pro-Bitcoin think tank, accused US lawmakers of picking winners and losers after reviewing the draft crypto tax legislation released Friday.
The Parity Act draft includes a ₱12,050 ($200) de minimis exemption for stablecoin transactions but excludes Bitcoin entirely. That means buying coffee with Bitcoin still requires a capital gains calculation, while paying with stablecoins under ₱12,050 ($200) triggers no tax reporting at all. The Bitcoin Policy Institute said a de minimis exemption is necessary for Bitcoin's maturation as a global medium of exchange.
The draft also creates what the think tank called a two-tier tax regime for crypto mining and staking. The legislation offers tax deferral to stakers while leaving Bitcoin miners stuck with phantom income problems from electricity, hardware, and infrastructure costs.
The Digital Chamber, a crypto advocacy group, celebrated the draft's release on X and said a modern tax framework is critical to keeping innovation in the US. Digital Chamber CEO Cody Carbone clarified the group won't endorse anything yet, saying the chamber needs de minimis on Bitcoin and will keep advocating for it to be added before the bill is introduced.
Behind-the-scenes lobbying became a flashpoint earlier this month when Bitcoin circles alleged that Coinbase lobbied against de minimis exemptions for Bitcoin. X founder and Bitcoin evangelist Jack Dorsey asked Coinbase CEO Brian Armstrong to confirm his colleagues' denials of the allegations. Armstrong denied the claims, and the draft remains a discussion document not yet introduced as legislation as of March 28, 2026.
This article was written based on reporting from Dlnews.
