Bitcoin advocacy organization urges the U.S. Congress to expand cryptocurrency tax exemption scope

DeepFlowTech · 2026-01-14T05:38:16+00:00

Several Bitcoin advocacy organizations have written to the U.S. Congress, urging the expansion of tax exemption policies to major tokens like Bitcoin, and warning that limiting them to stablecoins alone will not solve compliance issues. They recommend treating payment stablecoins as cash and setting a market cap threshold.

DeepFlowTech

2026-01-14 05:38:16

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Deep Tide TechFlow News, January 14th, according to Decrypt, several Bitcoin advocacy organizations including the Bitcoin Policy Institute recently jointly sent a letter to U.S. Congress tax leaders, urging the expansion of the planned tax relief policy to include Bitcoin and major network tokens, rather than being limited to stablecoins. The coalition warned that providing tax relief only for stablecoins that meet the GENIUS Act will not address the compliance challenges faced by millions of Americans using cryptocurrencies for everyday payments.

The coalition recommends adopting a cash-like tax treatment for payment stablecoins that meet the GENIUS Act and proposes a $2.5 billion market cap threshold to determine which network tokens are eligible for relief. The letter notes that currently, over 3,500 merchants across all 50 states in the U.S. accept Bitcoin payments, making the U.S. the largest market for Bitcoin payments.

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