At Wednesday’s White House press briefing, Press Secretary Karoline Leavitt outlined the administration’s latest cryptocurrency policy stance. Speaking to Bitcoin Magazine correspondent Frank Corva, Leavitt confirmed President Trump’s opposition to a central bank digital currency (CBDC) and his support for a $600 de minimis tax exemption on everyday crypto transactions. She also announced that the GENIUS Act has secured enough votes and a signing ceremony is scheduled for Thursday afternoon.
Clear Opposition to CBDC
Leavitt reiterated Trump’s campaign promise to block a U.S. CBDC. Although the GENIUS Act does not directly address CBDCs, the administration backs congressional efforts to codify the executive order signed in January that bans a central bank digital currency. “The president opposes a CBDC. He made that promise on the campaign trail, and he signed an executive order banning it. We support Congress enshrining that into law,” she said.
$600 Crypto Tax Exemption to Simplify Everyday Use
Under current IRS rules, every cryptocurrency transaction — even buying a cup of coffee — is a taxable event, requiring users to report gains or losses. Leavitt said Trump wants to change that by introducing a $600 de minimis exemption. “The president signaled his support to make it easier and more efficient for those who seek to use crypto — as simple as buying a cup of coffee. Right now that cannot happen. But with the de minimis exemption, perhaps it could in the future,” she stated. The administration will continue exploring legislative solutions to enact the threshold.
Three Crypto Bills Passed the House on the Same Day
On Wednesday, the House passed three crypto-related bills: the anti-CBDC bill, the Clarity Act (which clarifies the securities status of digital assets), and the GENIUS Act (providing a regulatory framework for stablecoins). Leavitt confirmed the White House expects the GENIUS Act to land on the president’s desk and that a signing ceremony is planned for Thursday. “This piece of legislation is going to make America the crypto capital of the world, and that’s what the president promised,” she said.
Broader Implications and Future Legislation
The proposed $600 tax exemption could significantly boost mainstream adoption of cryptocurrency for small payments. If enacted, it would eliminate the need for consumers to track and report every minor transaction, removing a major barrier to everyday use. Leavitt hinted that additional crypto bills are expected to move through Capitol Hill in the coming months, with Trump eager to sign further legislation supporting digital asset adoption. The administration’s stance puts it at odds with central banks globally that are developing CBDCs, but Leavitt emphasized the White House is committed to fostering private-sector innovation rather than a government-controlled digital currency.
The news signals a clear policy direction under a second Trump term: promoting crypto freedom while rejecting CBDCs. Industry observers will watch closely for the exact details of the de minimis exemption, which has been a long-standing request from crypto advocacy groups.