# Translation

Based on available information, cryptocurrency exchange Coinbase lobbied against a planned provision granting Bitcoin a "minimal" tax exemption as part of cryptocurrency tax rules being discussed in the United States. According to the company, it argued to lawmakers that Bitcoin has not achieved widespread adoption as a means of everyday payment, and therefore introducing such an exemption would be "stillborn from the start."

The discussion revolves around an exemption for small-value transactions (de minimis exemption), which aims to eliminate tax liability for small-amount cryptocurrency transactions. Such regulation would allow users to make everyday payments in cryptocurrency without calculating capital gains tax on transactions below a certain threshold. However, Coinbase argues that this exemption should apply only to regulated stablecoins pegged to the dollar, and USD Coin ($USDC), closely associated with the company, is a prime example.