Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands Clarity from Brian Armstrong

Coinbase Chief Policy Officer Faryar Shirzad refuted claims that the company is opposing a proposed tax exemption for small Bitcoin transactions, responding to a report by Marty Bent alleging Coinbase wants stablecoins-only treatment. Jack Dorsey of Block publicly called on Coinbase CEO Brian Armstrong for clarification. The proposed de minimis exemption would eliminate capital gains taxes on small Bitcoin transactions, aiming to encourage its use as currency, but some argue it's unnecessary. Block Inc. actively supports the exemption, citing growing Lightning Network transaction volume – exceeding $1.17 billion monthly – as evidence of Bitcoin's increasing use as a medium of exchange. The debate highlights tensions between platforms focused on Bitcoin as an investment versus those building payment infrastructure, with Congress continuing to consider the proposal.

(Source：Bitcoin Magazine)