Coinbase has called on US lawmakers to remove capital gains tax requirements on stablecoin payments and create exemptions for small cryptocurrency transactions, arguing that current rules impose unnecessary compliance burdens on everyday users.

Speaking before the House Ways and Means Committee on June 9, Coinbase Vice President of Tax Lawrence Zlatkin said stablecoins pegged to the US dollar should be treated at face value because they are designed to maintain a one-to-one relationship with the dollar.

“Under the current system, users may need to track cost basis and calculate gains or losses every time they spend stablecoins, even when those transactions involve minimal value changes,”

Zlatkin told lawmakers.

Coinbase also endorsed…