$200 stablecoin trading tax-free + GENIUS Act: The U.S. Congress and traditional banks' battle over encryption policies.

2025-12-21 09:20:10

Abstract generation in progress

[Coin World] The U.S. Congress is advancing a new encryption policy framework. The latest proposal is to exempt stablecoin transactions under $200 from Capital Gains Tax, claiming it aims to provide some protection and regulatory transparency for everyday users. This is not the first time — Senator Cynthia Lummis had previously attempted a $300 exemption proposal, but it did not gain traction.

Interestingly, traditional finance is now applying pressure from another angle. Banking lobby groups are unhappy with the stablecoin yields (around 3%-4%) offered by certain leading exchanges, claiming that it threatens their interests. However, this attitude has angered the encryption industry—professionals have stepped up to firmly support the newly proposed GENIUS Act, demonstrating strong backing for this policy framework.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes

Reward
7
5
Repost
Share

Comment

0/400

GasSavingMaster

· 12h ago

Are banks scared by a 3% yield like this? Laughing to death, what about their Interest? --- Another round of range-bound battle, can Loomis push it through this time? Not very optimistic ah --- The GENIUS bill must hold up, this TradFi system is just disgusting --- 200 bucks exemption is too small, gotta raise it up bro --- Banks are panicking, they can never catch up with the returns of encryption --- If this bill really passes, stablecoin can truly be popularized, looking forward --- I'm impressed by the lobbying ability of TradFi, but we are not pushovers either --- It's always this play, the exemption amount keeps rising and falling, so annoying --- The industry unites to fight back against bank lobbying, this time feels different ah --- 3-4% return? Banks wouldn't give a dime, just being able to benchmark like this is already a win

View OriginalReply0

MidnightTrader

· 12h ago

The bank guys really can't hold on anymore, is a 3% return that urgent? Haha --- A $200 tax-free limit is still a bit useless, what year is it anyway? --- Is Loomis serious this time? It feels like a blank check from before. --- TradFi is really scared, finally seeing the crypto community united for once. --- It's strange if the GENIUS act passes, it's just the same old story. --- I just want to know how this $200 is calculated, is it per transaction or cumulative? --- When the banks unite to resist, we know we're on the right path. --- Wait, are my 3%-4% stablecoin returns going to be cut? This is unbearable. --- It's Loomis again, what's up with this guy? --- It's rare for the crypto community to be united, this time it might really have a chance.

View OriginalReply0

LiquidityWitch

· 12h ago

The banks are really anxious; they can't sit still with a 3%-4% yield? This shows that stablecoins have indeed hit their Achilles' heel.

View OriginalReply0

SatoshiChallenger

· 12h ago

Ironically, banks claim that 3% threatens their interests, but their own zero-interest accounts are the real plunder. Data shows how much purchasing power traditional banks have drained from retail investors over the past decade. This time, it seems the scales have tilted slightly.

View OriginalReply0

ApeWithAPlan

· 13h ago

Haha, the bank over there is panicking, they can't handle a 3-4% yield, saying it threatens their interests... so funny Wait, can the $200 exemption really go through? That time with Loomis didn't work... The GENIUS Act must be supported, TradFi, don't disgust us How long is this round going to last? It feels like it’s always like this Stablecoins are the future, banks should have been disrupted long ago Can Loomis push something this time? Old tricks, banks always retaliate like this I think this bill is in jeopardy, the lobbying groups are too fierce The more TradFi opposes, the more it shows we are going in the right direction.

View OriginalReply0

Trending TopicsView More
#2025GateYearEndSummary
36.9K Popularity
#JoinGrowthPointsDrawToWinGoldenBar
37.21K Popularity
#ETHTrendWatch
155.44K Popularity
#FedRateCutPrediction
82.72K Popularity
#ShowMyAlphaPoints
177.75K Popularity

Hot Gate FunView More

1
ReveillonFeliz Ano Novo
MC:$0.1Holders:1
0.00%
2
BOOKBOOK COIN
MC:$3.57KHolders:2
0.04%
3
tttTEK
MC:$3.52KHolders:1
0.00%
4
LUCKLUCKY
MC:$3.57KHolders:2
0.04%
5
100000BtcBd
MC:$3.53KHolders:1
0.00%

Sitemap