10-10-2025 – Jack Dorsey, founder of Square and long-time Bitcoin advocate, has urged U.S. lawmakers to introduce a de minimis tax exemption for small Bitcoin transactions, arguing it would make the cryptocurrency viable for daily use. “We want Bitcoin to be everyday money ASAP,” Dorsey said Wednesday, following Square’s rollout of Bitcoin payment support for merchants across its checkout and point-of-sale systems.
His comments come as renewed debate over crypto taxation gains traction in Washington. Wyoming Senator Cynthia Lummis introduced legislation in July proposing a de minimis exemption for Bitcoin transactions of $300 or less, with an annual cap of $5,000. The bill aims to remove the capital gains burden on minor crypto payments—currently, every Bitcoin transaction in the U.S. is taxable if the asset’s value has appreciated since purchase.
Crypto industry leaders, including Coinbase tax vice president Lawrence Zlatkin, echoed Dorsey’s call during an October Senate Finance Committee hearing, urging lawmakers to codify the exemption. Zlatkin argued that without such relief, payment innovation could shift overseas, where jurisdictions like the UAE, Germany, and Portugal already offer friendlier crypto tax regimes.
Supporters say a de minimis rule could help Bitcoin function as both a payment system and a store of value—aligning with Satoshi Nakamoto’s original vision for peer-to-peer digital cash.
