Gate News reports that on March 12, according to market sources, a certain cryptocurrency trading platform is suspected of lobbying U.S. lawmakers behind the scenes to oppose the establishment of small transaction tax exemptions for Bitcoin, suggesting that the exemption should be limited to stablecoins. Bitcoin policy advocate Marty Bent disclosed on social media that the platform told legislators, “No one uses Bitcoin as currency,” and believed that establishing a small tax exemption for Bitcoin would be a “futile subsidy.” The crypto community considers that if these reports are true, it would be “very concerning,” aligning with recent worries about crypto legislation (such as the GENIUS Act), which suggest that some policies may be influenced by special interest groups and regulatory capture rather than genuine innovation. Over the past three months, policy discussions on Capitol Hill have shown a clear shift, with some proposals favoring small transaction tax exemptions only for stablecoins and excluding Bitcoin. The Bitcoin Policy Institute, a Bitcoin advocacy organization, stated that ongoing discussions with lawmakers indicate that limiting small exemption policies to stablecoins would be a strategic mistake in U.S. policy, as the organization has long advocated for exempting small Bitcoin transactions from capital gains tax.
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