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The $10 Insult: Why Congress’s De Minimis Tax Exemption Betrays Everyday Earners—and Locks Bitcoin in a Golden Cage.
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The $10 Insult: Why Congress’s De Minimis Tax Exemption Betrays Everyday Earners—and Locks Bitcoin in a Golden Cage.

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Why does the United States Congress treat foreign central bank currencies 20x better than Bitcoin?

Under Section 988(e) of the Internal Revenue Code, an American citizen can spend $1,500 worth of Euros or Swiss Francs, realize up to $200 in exchange-rate profit per transaction, and owe $0 in taxes with zero IRS paperwork.

Meanwhile, under the flagship crypto tax bills moving through Congress right now (H.R. 10357 and the ADAPT Act), if a working-class American spends $14.50 over the Lightning Network to buy lunch, it triggers a taxable barter disposition on IRS Form 8949.

Even worse: the much-hyped "$10 de minimis exemption" inside H.R. 10357 only exempts the network transaction fee —not the purchase itself. Congress exempted the postage stamp and kept the letter inside fully taxable.

Why?…

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