Trump to scrap capital gains tax on payments under $600 originally appeared on TheStreet .

The Donald Trump administration is considering a de minimis tax exemption for Bitcoin and crypto transactions, the White House press secretary, Karoline Leavitt, confirmed on July 17.

A reporter asked the secretary if the president was considering a $600 de minimis tax exemption for Bitcoin and other crypto spending that he once talked about.

Leavitt confirmed that Trump had indeed signaled support for crypto tax exemption, and the administration still supports it. She added:

"We are definitely receptive to it to make crypto payments easier and more efficient for those. Who seek to use crypto as simple as buying a cup of coffee."

Though it's not possible right now, the de minimis exemption could make it possible in the future, and the Trump administration will continue to explore legislative solutions to accomplish that, Leavitt continued.

House passes key pieces of crypto legislation

The House of Representatives passed the Digital Asset Market Clarity ( CLARITY ) Act, the Guiding and Establishing National Innovation for U.S. Stablecoins ( GENIUS ) Act, and the CBDC Anti-Surveillance State Act later in the day.

Join the discussion with CryptoWendyO on Roundtable here .

While the CLARITY Act aims to classify crypto assets as securities or commodities, the GENIUS Act aims to regulate stablecoins. The last bill debars the Federal Reserve from issuing or testing a central bank digital currency (CBDC) without explicit congressional approval.

Once the GENIUS Act dealing with stablecoin regulation passes, the U.S. is going to become "the crypto capital of the world" as the president promised, Leavitt reiterated.

The total crypto market cap stood at $3.81 trillion at the time of writing, up 0.02% a day.

As per Kraken's price feed , Bitcoin was trading at $119,034.47, down 0.34% a day.

Trump to scrap capital gains tax on payments under $600 first appeared on TheStreet on Jul 17, 2025

This story was originally reported by TheStreet on Jul 17, 2025, where it first appeared.