Fiscal Policy and the Use of Bitcoin: The Real Obstacle to Global Adoption

It’s not technical scalability, but the legal and fiscal framework that represents the main factor hindering the use of Bitcoin as a means of payment. This is the conclusion reached by industry experts in crypto, who analyze why, despite significant technological advances, the digital currency still has not found its place in the daily lives of ordinary consumers.

Lack of Tax Exemptions: The Most Serious Obstacle to Bitcoin Usage

According to Pierre Rochard, Bitcoin analyst and consultant at the treasury company Strive, the real problem does not lie in the network’s capacity to process more transactions. The true barrier is the absence of a de minimis tax exemption for microtransactions made with Bitcoin. Current regulations stipulate that every BTC operation must be reported and taxed, regardless of value, which practically makes Bitcoin use in everyday transactions impossible.

The Bitcoin Policy Institute, an organization focused on advocacy and lobbying in the field of crypto regulations, recently issued a warning regarding the lack of this fiscal protection. The institution emphasizes that, without mechanisms for exemption on small transactions, any purchase made with Bitcoin becomes a tax obligation requiring documentation and reporting. This reality transforms Bitcoin from a simple payment method into the equivalent of a complicated administrative obligation, discouraging the masses from adopting this method.

Lawmakers’ Efforts: Attempts to Reform the Fiscal Framework

Openness to fiscal policy reform comes from more progressive legislators. Wyoming Senator Cynthia Lummis, known for supporting the digital assets industry, has promoted a legislative initiative proposing a tax exemption for crypto assets valued at a maximum of 300 dollars per transaction. The bill also includes an annual cap of 5,000 dollars for beneficiaries of this exemption, with special provisions for charitable donations and deferral of taxes on staking and mining income.

However, the proposal has sparked a complex internal debate. U.S. legislators are considering a more restrictive approach: limiting exemptions to stablecoins fully collateralized by fiat deposits or government bonds, excluding Bitcoin and other decentralized cryptocurrencies from the benefits of these exemptions.

Division Within the Crypto Community

Opposition from prominent figures in the crypto space was immediate and vehement. Jack Dorsey, founder of the payment platform Square and a constant supporter of Bitcoin, argued that digital currency must become “everyday money” to realize its true potential. Dorsey believes that restricting Bitcoin use through fiscal obstacles contradicts the core objective of this technology.

Marty Bent, Bitcoin advocate and co-founder of the media outlet Truth for the Commoner, criticized the decision to offer exemptions only for stablecoins as “nonsensical and discriminatory.” Bent and others in the community argue that limiting Bitcoin use for tax reasons negates the very innovative nature of the digital asset and perpetuates dependence on traditional monetary systems.

This deep debate reflects the fundamental tensions in the process of integrating cryptocurrencies into the global economies. The problem is no longer the technical capacity to create digital payment instruments but the willingness of authorities to create fiscal frameworks that allow their real use. Without legislative changes, Bitcoin’s everyday use will remain an distant aspiration.