Coinbase Urges Congress to Treat Stablecoins Like Cash and Ease Crypto Tax Burdens
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Coinbase tax VP Lawrence Zlatkin testified on June 9 before the House Ways and Means Committee urging lawmakers to stop requiring Americans to calculate capital gains every time they spend a stablecoin or pay a blockchain transaction fee. His remarks came during a hearing on six standalone bills to update the US tax code for digital assets covering mining, staking, charitable donations and broker reporting, arguing that simplified rules would reduce crypto compliance costs and support adoption.
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Coinbase’s vice president of tax, Lawrence Zlatkin, testified before the House Ways and Means Committee on June 9, asking lawmakers to stop requiring Americans to calculate capital gains every time they spend a stablecoin or pay a blockchain transaction fee.
His testimony came during a hearing on six standalone bills aimed at updating how the US tax code treats digital assets, covering everything from mining and staking taxation to charitable donations and broker reporting requirements.
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