Coinbase Policy Lead Calls for Reform of Crypto Tax Rules, Saying the Current System Is Outdated

SmartContractAuditor

2026-03-27 02:56:24

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Odaily Planet Daily reports that Coinbase Chief Policy Officer Faryar Shirzad has called on U.S. lawmakers to reform cryptocurrency tax rules, stating that the current system, which treats crypto assets as “property,” is no longer suitable for industry development. He pointed out that under current regulations, even paying gas fees or using stablecoins for everyday transactions could trigger tax obligations, requiring users to calculate cost basis and track gains and losses, increasing compliance burdens.

Coinbase data shows a 34% year-over-year increase in tax-related customer inquiries, with millions of 1099-DA forms expected to be issued in 2025, many involving small transactions. Shirzad also stated that over 63% of users have gaps in their cost basis records and suggested establishing a minimum exemption for small transactions to reduce compliance complexity. He warned that if rules are not adjusted, it could impact the United States’ competitiveness in the crypto space. (Cryptopolitan)

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