Blockchain Association: Letter to Congressional Leaders of Both Parties to Promote Tax Exemption and Clarity in Tax Laws for Cryptocurrency Microtransactions

The Blockchain Association sent a letter to Senate Majority Leader John Thune, Minority Leader Chuck Schumer, House Speaker Mike Johnson, and House Minority Leader Hakeem Jeffries, urging bipartisan efforts to establish a digital asset tax law and launch taxclarityforamerica.com to assist users in contacting their legislators.

The core demands of the Association include: setting a substantial tax exemption threshold for small cryptocurrency transactions, so that everyday low-value consumption is not subject to the same tax treatment as investment sales; treating qualified stablecoins more like cash for tax purposes; and considering mining and staking rewards as "self-created property," taxing them at the time of disposal rather than at the time of receipt.