The Trump administration is considering tax exemption for Bitcoin transactions under $600 to promote daily cryptocurrency usage.
This proposal has received support from President Trump, while cryptocurrency-related bills are being reviewed by the US Congress to strengthen the US position in the global crypto market.
- Trump administration supports tax exemption for Bitcoin transactions under $600.
- Three major cryptocurrency bills passed by the US Congress.
- Government opposes cryptocurrency issuance by the Central Bank (CBDC).
How Does the Trump Administration Plan to Exempt Taxes for Small Bitcoin Transactions?
White House spokesperson Karoline Leavitt confirmed that the Trump administration is studying tax exemption for Bitcoin transactions under $600 to enhance cryptocurrency usage in daily payments.
Leavitt emphasized: "We want to simplify cryptocurrency use for small transactions like buying coffee. It's not possible now, but with this tax subsidy, the future could change." The President has also expressed strong support for this policy.
"We are completely ready to facilitate cryptocurrency payments, helping users use crypto more effectively and easily."
Karoline Leavitt, White House Spokesperson, July 2025
This proposal is assessed to create a significant step for widespread cryptocurrency adoption in the US, helping to process low costs and reduce tax burdens for daily transactions.
What Cryptocurrency Bills Has the US Congress Passed?
In July 2025, the US House of Representatives passed three major bills including the GENIUS Act, CLARITY Act, and CBDC Anti-Surveillance State Act, marking important reforms in the cryptocurrency legal framework.
These bills are assessed to establish clear regulations on stablecoin (GENIUS Act), divide digital asset management between SEC and CFTC (CLARITY Act), and simultaneously ban centralized cryptocurrency issuance by FED (CBDC Anti-Surveillance State Act).
"This will be a legal action to make the US the cryptocurrency capital of the world, just as the President committed."
Karoline Leavitt, White House Spokesperson, July 2025
However, some senators like Elizabeth Warren expressed concerns that the bill could pave the way for large corporations to issue their own Tokens, causing long-term risks.
Legislators' Opposition to the Bill
Senator Elizabeth Warren argued that the bill would allow big tech companies like Elon Musk and Mark Zuckerberg to issue their "own money", undermining financial transparency and safety.
This is a major point of controversy between representatives of innovative development and those concerned about legal risks, requiring these bills to be carefully considered.
What is Trump's Policy on Central Bank-Issued Cryptocurrency (CBDC)?
The Trump administration strongly opposes the development and issuance of CBDC, viewing it as a financial control risk and a threat to citizens' privacy.
In January 2025, President Trump signed an executive order banning CBDC development and supporting Congress to turn this order into law.
The White House spokesperson said many cryptocurrency-related bills are being prepared and will be pushed through Congress to protect financial freedom and prioritize decentralized solutions.
How Are Bitcoin Mining Taxes Being Addressed?
Senator Cynthia Lummis proposed modifying digital asset tax laws, including tax exemption for Bitcoin transactions under $300 and adjusting tax regulations for cryptocurrency mining and Staking activities.
Currently, the IRS taxes Bitcoin miners both when mining and selling, causing complications as Bitcoin is the only product taxed in this manner.
Frequently Asked Questions
1. How Will Tax Exemption for Bitcoin Transactions Under $600 Change Things?
This helps users easily use Bitcoin and cryptocurrency for small transactions without paying income tax, stimulating crypto payments.
2. What Are the Highlights of the US's Three New Cryptocurrency Bills?
GENIUS Act regulates stablecoin, CLARITY Act defines digital asset management rights, and CBDC Anti-Surveillance State Act bans CBDC issuance.
3. Why Does the Trump Administration Oppose CBDC?
They believe CBDC poses a financial surveillance risk and violates user privacy.
4. How Does the IRS Currently Tax Bitcoin Mining?
The IRS taxes both mining and selling Bitcoin, creating legal difficulties for the Bitcoin mining industry.
5. What Will Future Cryptocurrency Policy in the US Look Like?
The administration supports legal initiatives to promote wider and safer cryptocurrency usage while opposing centralized management forms.
