• Crypto lobby Blockchain Association pitches tax plan to Congress The Blockchain Association released its tax policy positions, saying “low-dollar” crypto transfers should be exempted, but mining and staking should be taxed. • Cointelegraph in your social feed A US crypto lobby group has shared with Congress its tax proposals for crypto and has met with House lawmakers working on a crypto tax bill to shape one of the industry’s top policy priorities. • The Blockchain Associationreleasedits crypto tax policy positions on Tuesday, which called for stablecoins to be treated as cash for ordinary purchases and for a de minimis tax exemption on “low-dollar” crypto transactions. • It argued that tax reporting for “negligible gains or losses from routine transactions imposes disproportionate costs on individuals and overwhelms tax administration without meaningful revenue upside.” The lobby also said it supports applying wash-sale rules to digital assets, allowing investors to claim losses on sales even if they buy the same crypto back. • The Blockchain Association’s efforts come as lawmakers debate how to tax crypto. • Republican Senator Cynthia Lummisintroduced a billin July to tax-exempt some crypto transactions, which was met with opposition from Democratic Senator Elizabeth Warren.

Article Summaries:

  • The Blockchain Association, a U.S. crypto lobby, has presented its tax policy proposals to Congress, aiming to shape forthcoming legislation on digital assets. The group calls for stablecoins to be treated as cash for ordinary purchases and for a de‑minimis exemption on “low‑dollar” crypto transactions, arguing that reporting negligible gains imposes disproportionate costs. It also supports wash‑sale rules for digital assets, capital‑gains taxation on mining and staking, and privacy‑safeguarded reporting to curb illicit activity. The Association met with House lawmakers and White House officials, while the proposals sit amid a debate between Republican Senator Cynthia Lummis, who introduced a crypto‑tax bill, and Democratic Senator Elizabeth Warren, who opposes many of the lobby’s suggestions.

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