The White House on Thursday confirmed that President Donald Trump remains committed to carving out a de minimis tax safe‑harbor for everyday Bitcoin and other cryptocurrency payments, a policy his economic team believes will let digital money function “as simply as buying a cup of coffee.”
Trump’s push picks up a debate that began in 2022, when senators Pat Toomey and Kyrsten Sinema introduced the Virtual Currency Tax Fairness Act to exempt gains of up to $200 per transaction—far below the $600 ceiling now backed by the White House. Industry groups such as Coin Center and the Blockchain Association have long argued that parity with foreign‑currency rules is essential for retail crypto adoption.
A $600 exclusion would dramatically reduce friction for low‑value crypto spending while leaving large transfers fully taxable, striking a balance between usability and revenue protection. Whether the final threshold lands at $200, $600 or is indexed for inflation will hinge on Senate negotiations later this summer, but the White House endorsement gives the measure its strongest tail‑wind yet. As Leavitt summed up: “The president looks forward to signing every piece of pro‑crypto legislation Congress can send him.”
At press time, Bitcoin traded at $120,576.
