>The irony is that a de minimis exemption doesn't even make sense for stablecoins. They're pegged to the dollar. They don't fluctuate in value. but they do... the "canonical bridge" between USDC and USD has failed before resulting in a temporary loss of peg. people have bought USDC for 92 cents. not to mention defi. there are situations where USDC can trade a fraction of a cent above or below its face value in different places. complex financial instruments are already in production harvesting this arbitrage. there ARE capital gains here. we are having these silly games because USDC is not a real dollar and the government still thinks it is a type of property. they want to tax even the normal micro-fluctuations that cause it to deviate from its peg.