The Blockchain Association on Tuesday released a set of digital asset tax principles and met with U.S. House lawmakers to advocate for a legislative overhaul of how cryptocurrencies are taxed.
The lobby group’s proposal, delivered during a “Capitol Hill Fly-In,” calls for a de minimis tax exemption on low-dollar crypto transactions and for stablecoins to be treated as cash for ordinary purchases. The Blockchain Association stated that current reporting requirements for negligible gains on routine transactions impose “disproportionate costs” on individuals and “overwhelm tax administration.”
The tax plan further proposes that mining and staking rewards be classified as self-created property, which would delay taxation until the assets are sold or disposed of, rather than when they are first received. This contradicts current IRS guidance, which generally treats such rewards as taxable income at the time of receipt.
The efforts align with provisions in a bill introduced by Senator Cynthia Lummis in July 2025, which seeks to establish a $300 de minimis rule and end what the industry calls “double taxation” on miners. However, the proposal faces ongoing opposition from Senator Elizabeth Warren, who argued in October 2025 that such exemptions could cost the U.S. Treasury $5.8 billion in revenue.
In its policy paper, the Blockchain Association also expressed support for extending wash-sale rules to digital assets to bring them into parity with traditional securities. The group met with officials from the House Ways and Means Committee and the White House to advance these priorities alongside broader market structure legislation.
The Blockchain Association is a Washington-based trade organization representing the digital asset industry, with members including major exchanges, investors, and infrastructure providers. The organization stated its goal is to ensure the U.S. tax code reflects the “economic reality” of how blockchain technology is used in the modern economy.
