Coinbase execs deny lobbying against Bitcoin de minimis tax exemption
US lawmakers are eyeing tax exemptions for US dollar stablecoins, which are designed to maintain a fixed value, but not other cryptocurrencies.
Executives at Coinbase have denied allegations that the crypto exchange is blocking a de minimis tax exemption for Bitcoin (BTC) transactions below a certain threshold to push for stablecoin tax exemptions.
Several Bitcoin advocates speculated on social media that the exchange told US lawmakers that a BTC tax exemption is not needed because BTC is not widely used as a medium of exchange.
Coinbase CEO Brian Armstrong responded by calling the allegations “totally false” and a form of misinformation.
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