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TFTC · 1w
Folks, we told you this was coming, and today the mask is fully off. A couple weeks back we reported, based on solid sources, that Coinbase was quietly lobbying to kill a real de minimis tax exemptio...
 Sjors Provoost profile picture
Sjors Provoost @provoost
Why would USDC even need a de minimis exception? They're no cost basis or gains.

Like Draghi said: "a euro is a euro, today, tomorrow, in a month, it's always a euro"

Or are they worried about slight deviations from the peg?

https://youtu.be/wztu8yyCPZQ
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Sjors Provoost · 1w
> Without de minimis for Bitcoin, every small Lightning payment or sat transaction still forces cost-basis tracking and IRS headaches. Paying your plumber in sats or grabbing lunch with Bitcoin remains a taxable event. Just to play devils advocate: just vibe code a tool that calculates this stuff ...
Frank Corva · 1w
They want a de minimis for stables because of the gas fees associated with these transactions (yes, seriously). The weirder part is Americans have little to no reasons to even use stablecoins.