Bitcoin Policy Institute released a policy brief stating that current U.S. tax law treats Bitcoin as property, meaning every Bitcoin payment—regardless of amount—triggers capital gains calculations and reporting obligations. The organization is calling on Congress to establish a "de minimis" small transaction tax exemption rule that would grant Bitcoin transactions in everyday consumer scenarios similar tax exemptions to those applied to foreign exchange, and warned that some legislative discussions are trending toward providing this exemption only for stablecoins while excluding Bitcoin.