Crypto Scenario Insights
What happened
Coinbase's tax VP testified before the House Ways and Means Committee, advocating for stablecoin tax parity, a gas fee tax waiver, and staking tax deferrals.
What we think
From a market structure perspective, the current US tax code acts as a major friction point that dampens retail transaction volume and stablecoin velocity.
Read the analysis
Will stablecoin tax parity unlock retail transaction volume, or is regulatory gridlock here to stay?
We explain what happened and what could follow. We do not forecast prices.