Why Stablecoin Taxes Make No Sense | BBS 2026 Day 2
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0:00A: Okay. And so what were you speaking about today?
0:01B: So today I was just talking about the regulatory aspects of cryptocurrency, specifically stablecoins. What are some of the problems? Me as an accountant, I think it’s absolutely absurd that every single transaction that you do in the space, you have to document, send to the IRS every time you sell, spend, or trade. And so you got people spending stablecoins and they have to report that to the IRS. And as you know, a stablecoin is typically pegged to the US dollar. So why is there a capital gain on the small little swings in the stablecoin? It creates so much work for me. It’s not creating a lot of money for the government and it’s making my clients spend more money on me just to stay compliant. I think some of these rules are atrocious and I think they need to be addressed. But at the end of the day, cryptocurrency, stablecoins, Bitcoin, they were not created for an intermediary to control it. And so if you’re trying to tax something that was built to not be taxed, then there’s always going to be problems.
