Coinbase Calls for U.S. Reform of Cryptocurrency Tax Rules

DeepFlowTech · 2026-03-27T03:06:34+00:00

Coinbase Chief Product Officer Calls for Revision of Cryptocurrency Tax Regulations, Arguing That Treating Crypto Assets as "Property" Hinders Adoption, with Customer Inquiries Increasing by 34%. Recommends Exempting Small Transactions to Reduce User Burden.

DeepFlowTech

2026-03-27 03:06:34

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Deep Tide TechFlow message, March 27, according to CryptoNews, Coinbase Chief Product Officer Faryar Shirzad publicly called on U.S. lawmakers to revise the current cryptocurrency tax regulations. He noted that the practice of classifying crypto assets as “property” stems from 20th-century tax law frameworks, which means users must incur tax obligations both when paying Gas fees and when using stablecoins for everyday transactions—seriously hindering the widespread adoption of cryptocurrencies.

Coinbase data shows that, compared with the same period last year, the volume of customer inquiries involving tax filing has increased by 34%. The 2025 tax year will generate millions of 1099-DA forms, many of which correspond to transaction amounts below $600, and some even below $1. In addition, more than 63% of users have issues with missing cost basis records, mainly because assets are frequently transferred between different wallets and exchanges. Coinbase recommends following the “de minimis exemption” mechanism in current tax law to waive reporting requirements for small transactions.

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