An exchange is reported to have lobbied against the bitcoin small-amount tax exemption policy, advocating that it should only apply to stablecoins.

PANews, March 12 — According to BitcoinNews, a certain crypto trading platform has been accused of possibly lobbying US lawmakers behind the scenes to oppose the establishment of a small transaction tax exemption for bitcoin, and instead recommending that the exemption be limited only to stablecoins. Previously, bitcoin policy advocate Marty Bent revealed on social media that the exchange had told lawmakers "no one uses bitcoin as currency," and argued that a small tax exemption policy for bitcoin would be a "subsidy doomed to fail."

The crypto community believes that if these allegations are true, it would be "very concerning," and this aligns with recent worries about crypto legislation (such as the GENIUS Act), namely that some policies may be influenced by special interest groups and regulatory capture rather than genuinely promoting innovation. Over the past three months, there has been a noticeable shift in policy discussions on Capitol Hill, with some proposals tending to provide small transaction tax exemptions only for stablecoins, excluding bitcoin. According to the bitcoin advocacy organization Bitcoin Policy Institute, they are still in ongoing communication with lawmakers, and limiting small tax exemptions to stablecoins would be a strategic mistake for US policy. The organization has long advocated for exempting small bitcoin transactions from capital gains tax.