White House Briefing: Trump's Crypto Policy Stance
At Wednesday's White House press briefing, Press Secretary Karoline Leavitt detailed the administration's latest direction on cryptocurrency policy. She explicitly stated that President Trump strongly opposes a central bank digital currency (CBDC) and supports a $600 de minimis tax exemption for everyday crypto transactions, a move aimed at simplifying small-scale digital asset usage.
Opposing CBDC, Supporting Legislative Codification
Responding to a question from Bitcoin Magazine White House correspondent Frank Corva, Leavitt reiterated the president's campaign promise to ban a CBDC. Trump signed a January executive order prohibiting a central bank digital currency. "The president opposes [a CBDC]," Leavitt said. "He made that promise to the American people on the campaign, and while it's not in this specific piece of legislation, the administration supports Congress's efforts to codify that executive order into law." Although the Genius Act does not directly address CBDCs, the White House believes the legislation has enough support to pass and is planning a signing ceremony.
$600 De Minimis Exemption: Making Crypto Coffee Purchases Possible
Leavitt highlighted the president's backing of a $600 de minimis tax exemption for bitcoin and other cryptocurrency transactions. Currently, even minor purchases made using digital assets are considered taxable events, a hurdle that crypto advocates say limits everyday adoption. "The president did signal his support for crypto and the administration to make [it] easier and more efficient for those who seek to use crypto—as simple as buying a cup of coffee," Leavitt stated. "Of course, right now that cannot happen. But with the de minimis exemption, perhaps it could in the future, and we will continue to explore legislative solutions to accomplish that."
Three Crypto Bills Passed, Accelerating US Crypto Hub Status
Leavitt confirmed that three crypto-related bills—the anti-CBDC bill, the Clarity Act, and the Genius Act—were passed in the House today. "We know we have the votes and we expect it to get to the president's desk, and we are planning a signing ceremony tomorrow afternoon," she said. "This piece of legislation is going to make America the crypto capital of the world, and that's what the president promised."
Future Legislative Outlook
Leavitt concluded by noting that the administration expects additional crypto-related bills to move through Capitol Hill in the coming months, with the president eager to sign future legislation that supports digital asset adoption. These moves signal a proactive approach from the Trump administration to position the United States as a global leader in cryptocurrency innovation.