Trump Administration Reaffirms Support for Minimum Tax Exemption on Crypto Transactions, Advancing Legislation to Facilitate Everyday Payments

According to ChainCatcher, citing The Block, the Trump administration has expressed support for a minimum tax exemption policy on small-scale crypto transactions. Although this provision was not included in the recently signed "Great American Bill," White House Press Secretary Levitt stated that the administration will continue to push for relevant legislation to lower the tax threshold for users making everyday payments with cryptocurrencies.

In addition, the Trump team plans to promote the signing of the GENIUS Act to improve the regulatory framework for stablecoins and aims to establish the United States as the "global crypto capital." Currently, the IRS still requires all crypto transactions to be truthfully reported. If the exemption policy is implemented, it is expected to greatly simplify compliance procedures and boost mainstream user adoption.