Bitcoin Advocacy Groups Urge U.S. Congress to Expand Tax Exemptions

According to BlockBeats, on January 14, several Bitcoin advocacy organizations, including the Bitcoin Policy Institute, have jointly written to U.S. Congress tax leaders. They are urging the expansion of minimum exemption criteria to include Bitcoin and major network tokens, not just stablecoins. The coalition proposes that stablecoins meeting the GENIUS standard be treated like cash. Additionally, they suggest a market capitalization threshold of $25 billion for eligible network tokens to qualify for exemptions, with a single transaction limit of $600 and an annual cap of $20,000.