[News] Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands Clarity
Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands Clarity
Coinbase Chief Policy Officer Faryar Shirzad has directly denied allegations that the company is lobbying against a proposed de minimis tax exemption for Bitcoin, stating that Coinbase has never and will never lobby against Bitcoin.
Key Highlights
- Coinbase CPO Faryar Shirzad denies allegations of opposing Bitcoin tax relief
- Jack Dorsey calls for clarity from Coinbase CEO Brian Armstrong on the matter
- The de minimis tax exemption would eliminate capital-gains taxes and IRS reporting requirements on small Bitcoin transactions
Market Context & Analysis
The de minimis tax exemption is a crucial piece of legislation that would remove tax friction and make Bitcoin more practical for everyday use. Supporters argue that the change is essential to remove compliance burdens that currently discourage the use of Bitcoin for routine purchases. Without it, Bitcoin’s function as a medium of exchange is limited.
Block Inc. has been a vocal corporate supporter of the exemption, launching its “Bitcoin is Everyday Money” campaign in November 2025. The company has also rolled out Lightning Network tools that let Square merchants accept Bitcoin payments with zero fees through 2027.
Technical Perspective
Lightning Network data published by Bitcoin Magazine shows that Bitcoin is indeed being used as money, with $1.17 billion in monthly volume across 5.22 million transactions in November 2025. Average transaction size rose to $223, and the network has reached roughly 1.5 million users and $1.5 billion in trading volume.
What This Means for Investors
The de minimis tax exemption has significant implications for the future of Bitcoin and its potential for widespread adoption. If passed, it could remove a major hurdle to Bitcoin’s use as a medium of exchange and increase its appeal to mainstream users. However, as with any investment in the cryptocurrency space, it’s essential to remember that crypto investments carry risk.
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