Policy Group Calls for Bitcoin Inclusion in Proposed Crypto Tax Exemption
The Bitcoin Policy Institute (BPI) is urging Congress to broaden proposed de minimis tax relief for digital assets beyond payment stablecoins to include bitcoin and other major network tokens.
In response, BPI has led a coalition letter to key tax writers and mounted an outreach campaign on Capitol Hill, meeting with 19 congressional offices across both chambers over the past three months.
The organization is pressing for a value‑based exemption that would apply to both GENIUS‑compliant payment stablecoins and large‑cap network tokens, potentially up to 600 dollars per transaction with an annual cap near 20,000 dollars.
BPI warns that with midterm politics approaching and Senator Lummis set to leave the Senate in January 2027, the window for comprehensive digital asset tax reform may close if Congress does not advance a package before an expected legislative push in August 2026.
Coinbase rejects claims they opposed Bitcoin tax relief
All this comes as Coinbase Chief Policy Officer Faryar Shirzad and CEO Brian Armstrong recently denied allegations that the exchange lobbied against the proposed de minimis tax exemption for Bitcoin, responding on X to claims made by Bitcoin podcaster Marty Bent.
Shirzad called the accusation “a total lie,” stating the company had never and would never lobby against Bitcoin.
The denial followed Bent’s March 11 report alleging Coinbase had told lawmakers the exemption was unnecessary because Bitcoin was not widely used as money.
According to Bent, the company argued that a de minimis exemption would amount to a “handout” unlikely to pass and was instead advocating for stablecoin-focused tax treatment that could benefit its own business model. Bent later said he had three sources supporting the claim.
Armstrong rejected the allegation, calling the rumor “totally false” after being publicly asked for clarification by Jack Dorsey of Block Inc..
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