Post
Blockchain lobbying organization speaks out: Stablecoins should be treated like cash, and small transactions should not be taxed.
The main lobbying group in the blockchain industry, the Blockchain Association, recently expressed its latest position on cryptocurrency tax systems, calling for systematic adjustments to relevant policies.
The association pointed out that in real-world use cases, stablecoins are closer to 'digital cash' and should be considered as everyday payment tools, without the burden of complex tax declaration obligations for ordinary consumption. At the same time, they suggested establishing a minimum tax exemption threshold for smaller cryptocurrency transactions. The association believes that requiring individuals to repeatedly report negligible gains and losses in daily transactions is not only excessively costly but also significantly increases the administrative burden on tax authorities, without yielding substantial fiscal revenue.
The association pointed out that in real-world use cases, stablecoins are closer to 'digital cash' and should be considered as everyday payment tools, without the burden of complex tax declaration obligations for ordinary consumption. At the same time, they suggested establishing a minimum tax exemption threshold for smaller cryptocurrency transactions. The association believes that requiring individuals to repeatedly report negligible gains and losses in daily transactions is not only excessively costly but also significantly increases the administrative burden on tax authorities, without yielding substantial fiscal revenue.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.