The White House confirmed on Thursday that President Donald Trump is still backing a minimal tax exemption for everyday Bitcoin and other cryptocurrency transactions.
Trump’s Stance on Bitcoin Tax Exceptions
During a daily briefing, Press Secretary Caroline Leavitt responded to questions from Bitcoin magazine correspondent Frank Colva about whether the president remains committed to the $600 threshold proposed earlier this year. “The president supports the minimal crypto exemption, and the administration is actively seeking legislative solutions to implement it,” Leavitt stated.
She emphasized that the proposed measure would alleviate the burden on users who currently have to calculate capital gains tax whenever they use their valuable digital assets. “It’s unlikely to happen immediately, but perhaps it could be in place down the line,” she mentioned to reporters.
The exemption is anticipated to take shape later this year alongside related tax laws, but there’s already some progress on Capitol Hill. On Wednesday, the House advanced a new bill that includes the de Minimis standard in the first federal framework specifically for Stablecoins under the Bipartisan Genius Act. This act has passed the House with a vote of 308-122 and is set to be signed in a Rose Garden ceremony on Friday, according to Leavitt.
Trump’s advocacy included the earlier efforts of Senators Pat Toomey and Kirsten Cinema, who backed the $600 cap when they introduced the Cryptocurrency Tax Fairness Act, which proposed to exempt profits of up to $200 per transaction. Organizations like the Coin Center and the Blockchain Association have long argued that having equitable rules for foreign currencies is crucial for retail crypto integration.
Leavitt reiterated that the president “opposes central bank digital currencies,” noting Trump’s January executive order that prohibited the Federal Reserve from developing such currency and endorsed congressional moves to formalize the ban. She framed the combined measures—covering Stablecoin regulation, securities oversight, anti-CBDC laws, and the upcoming De Minimis adjustment—as a framework for long-term American leadership in digital assets.
The proposed $600 exclusion could significantly reduce friction for smaller cryptocurrency transactions, while larger transfers would still incur taxes, hitting a balance between usability and revenue protection. Whether the final threshold ends up being $200, $600, or some inflation-adjusted figure will depend on upcoming Senate negotiations this summer, but the backing from the White House certainly lends it momentum. As Leavitt put it, “The President is eager to sign every relevant piece of Crypto legislation that reaches him.”
As of the latest updates, Bitcoin’s trading price stood at $120,576.
