Coinbase Allegedly Lobbies Against Bitcoin Small Transaction Tax Exemption, Proposes Limiting It to Stablecoins

ChainCatcher report: According to market sources, the cryptocurrency exchange Coinbase has been accused of secretly lobbying U.S. lawmakers to oppose a small-transaction tax exemption for Bitcoin, while advocating that such an exemption be limited exclusively to stablecoins. Previously, Bitcoin policy advocate Marty Bent disclosed on social media that Coinbase had informed legislators that “no one uses Bitcoin as money” and argued that establishing a small-transaction tax exemption for Bitcoin would be a “doomed subsidy.” The crypto community views this, if true, as “deeply concerning,” aligning with broader worries about recent crypto legislation—such as the GENIUS Act—that may be influenced by special interest groups and regulatory capture rather than genuine innovation. Over the past three months, policy discussions on Capitol Hill have shifted noticeably, with some proposals favoring small-transaction tax exemptions only for stablecoins while excluding Bitcoin. Additionally, the Bitcoin Policy Institute, a Bitcoin advocacy group, stated that it continues to engage with lawmakers, warning that limiting the tax exemption solely to stablecoins would be a strategic policy error in the U.S., as the institute has long advocated for exempting small Bitcoin transactions from capital gains tax.