Gate News reports that on March 27, a chief policy officer from a certain CEX called on U.S. lawmakers to reform cryptocurrency tax rules, stating that the current system, which treats crypto assets as “property,” has become difficult to adapt to industry development. He pointed out that under the current rules, even paying Gas fees or using stablecoins for daily transactions could trigger tax liabilities, requiring users to calculate cost basis and track gains and losses, increasing compliance burdens. Data from the CEX shows that the volume of tax-related customer service inquiries has increased by 34% year-on-year, and millions of 1099-DA forms are expected to be issued in 2025, many of which involve small transactions. The official also stated that over 63% of users have gaps in their cost basis records and suggested establishing a minimum exemption threshold for small transactions to reduce compliance complexity, warning that if the rules are not adjusted, it could impact the U.S. competitiveness in the crypto space.
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