The exchange argued that tracking gains on stablecoin purchases creates administrative complexity without generating meaningful tax revenue.
Coinbase’s vice president of tax, Lawrence Zlatkin, testified before the House Ways and Means Committee on June 9, asking lawmakers to stop requiring Americans to calculate capital gains every time they spend a stablecoin or pay a blockchain transaction fee.
His testimony came during a hearing on six standalone bills aimed at updating how the US tax code treats digital assets, covering everything from mining and staking taxation to charitable donations and broker reporting requirements.
