Why is Coinbase asking Congress to change crypto tax rules?

Coinbase argues that current US tax rules create unnecessary complexity for everyday crypto users. The company wants lawmakers to simplify reporting requirements for stablecoin payments, small crypto purchases, staking rewards and other common digital asset transactions.

Why does Coinbase want stablecoin payments exempt from capital gains taxes?

Coinbase says stablecoins pegged to the US dollar are designed to maintain a stable value and should be treated similarly to cash payments. Under current rules, users may need to calculate gains or losses every time they spend stablecoins, even when price changes are negligible.

What tax changes is Coinbase proposing for stablecoins?

The company wants federally regulated dollar-backed stablecoins to be treated at face value for tax purposes. This would eliminate the need for users to track cost basis and report gains or losses on routine stablecoin transactions.

What is a de minimis exemption for crypto transactions?

A de minimis exemption would allow small cryptocurrency purchases to occur without triggering capital gains tax calculations. Coinbase argues this would make Bitcoin and other digital assets more practical for everyday spending.

How would Coinbase change the taxation of staking and mining rewards?

Coinbase supports allowing miners and validators to defer taxes on newly created digital assets until they are sold. The company argues that taxing rewards only when converted into income-producing sales would be more consistent with how other forms of production are taxed.

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Coinbase pushes Congress to ease crypto taxes

Q: What gas fee tax exemption is Coinbase supporting?

Coinbase supports legislation proposed by Congressman Rudy Yakym that would exempt blockchain gas fee transactions of up to $10 from tax reporting requirements. The company believes reporting tiny transaction fees creates administrative burdens with limited tax benefits.

Written by Heidi Cuthbert Published Jun 11, 2026, 12:32 AM

Coinbase has called on US lawmakers to remove capital gains tax requirements on stablecoin payments and create exemptions for small cryptocurrency transactions, arguing that current rules impose unnecessary compliance burdens on everyday users.

Speaking before the House Ways and Means Committee on June 9, Coinbase Vice President of Tax Lawrence Zlatkin said stablecoins pegged to the US dollar should be treated at face value because they are designed to maintain a one-to-one relationship with the dollar.

“Under the current system, users may need to track cost basis and calculate gains or losses every time they spend stablecoins, even when those transactions involve minimal value changes,”

Zlatkin told lawmakers.

Coinbase also endorsed legislation introduced by Congressman Rudy Yakym that would exempt blockchain gas fee transactions of up to $10 from tax reporting requirements and called for a broader de minimis exemption covering low-value purchases made with Bitcoin and other digital assets.

The exchange further backed a proposal from Congressman Mike Carey that would allow miners and validators to defer taxation on newly created digital assets until those assets are sold rather than when they are generated.

“A farmer is never taxed when a bushel of wheat sprouts from the ground; they are taxed when they harvest that crop, bring it to market, and execute a sale,”

Said Zlatkin.

Coinbase also urged Congress to provide an implementation period of at least 18 to 24 months before applying wash-sale rules to cryptocurrencies, arguing that the fragmented nature of trading across exchanges, decentralised platforms and self-custody wallets creates significant technical challenges for compliance and reporting.

At the time of reporting, Bitcoin price was $61,808.15.

Coinbase pushes Congress to ease crypto taxes

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