- Draft crypto tax legislation introduced on Friday would create a de minimis exemption for stablecoin transactions.
- But it leaves Bitcoin out in the cold, frustrating proponents.
- “Rather than promoting parity, this draft picks winners and losers,” the Bitcoin Policy Institute said.
Bitcoiners are crying foul after US lawmakers released draft tax legislation that did not include a so-called de minimis exemption for low-value Bitcoin transactions.
The bill, dubbed the Parity Act, is meant to help stablecoins function more like cash by introducing a $200 de minimis exemption. That means that any stablecoin transaction under $200 would not require capital gains reporting.
Without such an exemption, using stablecoins to, say, purchase coffee…
