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US lawmakers consider $600 de minimis exemption for Bitcoin tax reporting to ease burdens on small crypto transactions

Market News
09 Jun 2026
Crypto Briefing
View Source
Bullish
pluang ai news

Jason Somensatto of Coin Center urged the US House Ways and Means Committee to adopt a de minimis exemption for crypto transactions under $600, arguing that the current IRS rule treats every Bitcoin transaction as taxable, even small everyday purchases. This exemption would align crypto with how foreign currency is treated, sparing small personal transactions from capital gains reporting. The hearing discussed six digital asset tax bills, showing bipartisan interest in simplifying crypto tax rules. While no immediate action was taken, the momentum suggests potential legislative changes to ease tax burdens on ordinary crypto users soon.

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