18.07.2025 06:15

The White House confirmed President Trump's backing of a Bitcoin tax exemption, signaling a significant shift in the administration's approach to cryptocurrency. During a press briefing, Press Secretary Karoline Leavitt explicitly stated the administration's ongoing exploration of a *de minimis* exemption for Bitcoin transactions. This initiative aims to streamline the use of Bitcoin and other cryptocurrencies for everyday purchases.

Responding to questions from Bitcoin Magazine's political correspondent, Frank Corva, Leavitt affirmed President Trump's support for a $600 *de minimis* exemption, explicitly stating the administration's continued commitment to this policy. She emphasized the administration’s receptiveness to measures simplifying cryptocurrency transactions, envisioning a future where cryptocurrencies become as commonplace as paying for a cup of coffee. The goal, Leavitt clarified, is to explore legislative pathways enabling this level of accessibility.

This announcement comes as the GENIUS Act, a piece of legislation aiming to establish the United States as a global cryptocurrency leader, nears its final passage. The House's approval of the GENIUS Act, following a procedural victory on July 16th, paved the way for its presentation to President Trump. This successful passage, overcoming resistance from some Republicans concerned about central bank digital currency (CBDC) provisions, marks a substantial step towards fulfilling a key campaign pledge.

Leavitt highlighted the GENIUS Act's importance in achieving President Trump's vision of America becoming the global cryptocurrency hub. She announced a signing ceremony scheduled for the following afternoon, emphasizing the Act's central role in fulfilling the President's campaign promises. The *de minimis* exemption proposal, therefore, is intricately linked to the broader goal of fostering a more crypto-friendly environment within the United States.