- Paul Barron says Donald Trump plans to remove taxes on routine crypto transactions.
- The change could cover Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and XRP (XRP), removing small taxable events.
- The move follows a March 2025 Executive Order creating a Strategic Bitcoin Reserve and aims to boost U.S. crypto competitiveness.
- The proposal appears alongside the push to mark up the CLARITY Act in the Senate and debates over stablecoin rules.
- Industry tension includes claims that the banking lobby wants to “profit from interest reserves” and that platforms like Coinbase may withdraw support for the bill; Coinbase traded at $239 pre-market, down 0.52%.
Paul Barron recently said on X that Donald Trump intends to remove taxes on routine crypto transactions, aiming to exempt payments in digital assets and avoid tracking small taxable events, which Barron said would make payments “frictionless”. The post named Bitcoin (BTC), and possibly Ethereum (ETH), Solana (SOL) and XRP (XRP), as covered assets; Barron framed the plan as a bid to position the U.S. as a competitive crypto “jurisdiction” if it moves from “rhetoric to law” (reported).
U.S. tax rules currently treat crypto as property, so transactions can trigger capital gains tax when assets are sold, exchanged, or used for payment. In March 2025, an executive order established a Strategic Bitcoin Reserve and set a government digital asset strategy that said it would make the U.S. the “crypto capital of the world”.
As lawmakers advance the CLARITY Act toward a Senate markup, Barron noted in a previous post that the banking lobby sought to “profit from interest reserves” generated by stablecoins. He said the GENIUS Act currently bars stablecoin issuers like Tether (USDT) from paying interest directly, creating a loophole allowing third parties such as Coinbase and DeFi protocols to pay yields to customers.
Barron added that Coinbase had prepared to withdraw support for the CLARITY Act, and market data showed Coinbase trading at $239, down 0.52% in pre-market hours. The CLARITY Act aims to create a unified framework for digital asset regulation and to clarify the SEC’s role in overseeing cryptocurrencies.
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