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Coinbase, Block, River and Bitcoin Policy Institute to Push De Minimis Crypto Tax Exemption

Coinbase, Block, River and Bitcoin Policy Institute to Push De Minimis Crypto Tax Exemption

Coinbase’s policy chief said rising tax-support requests and widespread cost-basis record gaps show growing pressure for U.S. crypto tax reform ahead of expanded 1099-DA reporting in 2025.

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Fact Check
The claim is corroborated by multiple independent reports from March 2026. Primary industry news outlets (TFTC, PANews) and social media reports from the day of the event confirm that Coinbase, Block, River, and the Bitcoin Policy Institute (BPI) jointly lobbied in Washington, D.C. for a de minimis tax exemption. The context of the advocacy—addressing the 1099-DA reporting burden and resolving previous public disagreements between Block and Coinbase—is well-documented.
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Summary

Coinbase policy chief Faryar Shirzad urged U.S. lawmakers to reform crypto tax rules, adding new detail to the industry push for a de minimis tax exemption backed by Coinbase, Block, River and the Bitcoin Policy Institute. Coinbase said tax-related customer support inquiries rose 34% year over year, more than 63% of users have gaps in cost-basis records, and millions of 1099-DA forms are expected in 2025. The new figures underscore the compliance burden tied to small crypto transactions and strengthen the case for changes aimed at reducing tax friction for everyday digital-asset payments.

Terms & Concepts
  • De minimis tax exemption: A tax rule that excludes very small transactions from reporting or taxation requirements.
  • Cost-basis: The original purchase value of an asset used to calculate gains or losses when it is sold, spent, or otherwise disposed of.
  • 1099-DA: A U.S. tax form intended for reporting proceeds from digital asset transactions to taxpayers and the IRS.