BREAKING: Trump’s Bold Move for Bitcoin Tax Cuts Confirmed by White House

The White House just dropped a bombshell—Trump is pushing hard for crypto tax relief, with Bitcoin front and center. Could this be the catalyst for the next bull run? Or just political posturing before the 2026 midterms?

Here’s what we know:

The Play:
Trump’s team is lobbying to slash capital gains taxes on crypto holdings, specifically targeting Bitcoin. No more 20% haircuts for HODLers—if this passes, the IRS might finally stop treating your Satoshis like a Swiss bank account.

The Punchline:
Wall Street’s still rolling its eyes at ‘magic internet money,’ but guess who’s scrambling to reposition their ETFs? (Looking at you, BlackRock.)

The Bottom Line:
Whether this gets traction or dies in committee, one thing’s clear: crypto’s gone from basement-dwelling rebel to political bargaining chip. Welcome to the big leagues—where every tax break comes with a side of lobbyist handshakes.

TLDR

• The Trump administration is actively exploring a crypto tax exemption to simplify Bitcoin transactions for everyday use.
• President Trump has shown strong support for the de minimis tax exemption for crypto payments.
• The White House aims to make crypto transactions as simple as buying everyday items like a cup of coffee.
• The GENIUS Act, which focuses on crypto regulation, is poised for approval, aligning with Trump’s crypto vision.
• The administration remains firm in its opposition to central bank digital currencies, reinforcing Trump’s campaign promises.

The White House confirmed that the Trump administration is exploring a de minimis tax exemption for Bitcoin transactions. This initiative aims to reduce barriers to everyday Bitcoin and crypto use. White House Press Secretary Karoline Leavitt shared these developments during today’s briefing. The proposal is designed to make crypto payments more accessible, including for smaller transactions like buying a cup of coffee.

Trump’s Support for the Crypto Tax Exemption

President Trump has signaled strong support for a crypto tax exemption, particularly for bitcoin transactions. The exemption would simplify everyday crypto transactions by removing burdensome tax reporting requirements. Leavitt emphasized that the administration is committed to making crypto payments easier and more efficient for the public.

BREAKING: 🇺🇸 White House says it is exploring de minimis tax exemption for Bitcoin "to make crypto payments easier." 👀 pic.twitter.com/4iBtqGdcZQ

— Bitcoin Magazine (@BitcoinMagazine) July 17, 2025

The proposal aims to lower the threshold for reporting transactions. Currently, crypto transactions often face unnecessary tax complexities. Trump’s backing aligns with his broader efforts to make America the global hub for crypto innovation. The initiative WOULD contribute significantly to this vision.

Leavitt confirmed that the administration continues to advocate for the exemption and is receptive to solutions that improve crypto payment systems. She believes this will enable crypto to become as convenient as traditional payment methods, such as credit cards or cash.

GENIUS Act and its Implications for the Crypto Industry

The announcement comes as Congress prepares to pass the GENIUS Act, a comprehensive piece of cryptocurrency legislation. This act aims to regulate stablecoins, define oversight roles for the SEC and CFTC, and prohibit the creation of a central bank digital currency (CBDC). Trump’s support for crypto remains unwavering, especially against the backdrop of growing concerns about CBDCs.

Leavitt highlighted that the GENIUS Act is set to fulfill Trump’s campaign promise. She referred to the act as pivotal for making the United States the crypto capital of the world. Additionally, she assured that more cryptocurrency-related legislation would follow, as Congress continues to explore ways to support the industry.

The administration has strongly opposed the creation of a central bank digital currency. Leavitt reiterated Trump’s stance, noting that he signed an executive order in January banning CBDCs. This further reinforces the administration’s commitment to ensuring that the crypto space remains free from government interference.

Looking ahead, the administration supports efforts to codify the executive order into law. Leavitt suggested that additional crypto-related bills would emerge from Capitol Hill. These future measures aim to strengthen the framework for the crypto industry and ensure that it thrives in a more secure environment.