Crypto sales are taxable under current United States policy, but lawmakers have proposed tax exemptions for small transactions.

The Nietzschean Penguin (PENGUIN) memecoin had a market capitalization of about $387,000 before the US White House published its post.

The Bitcoin proposal caps arbitrary data in an attempt to combat spam from non-monetary transactions on the Bitcoin network.

The expanded prohibition on stablecoin yield in the CLARITY Act makes the US dollar less competitive than the digital yuan, Scaramucci said.

Overregulation of the crypto industry would negatively impact markets and gut decentralized finance (DeFi), according to Michaël van de Poppe.

Coinbase CEO Brian Armstrong said the industry is working on several ideas to help community banks in the CLARITY market structure bill.

The company began accepting Bitcoin as a method of payment in May 2025, following hundreds of store closures between 2018 and 2025.

The bill is still a "priority," White House Crypto Council Director Patrick Witt said, but interagency legalities remain a challenge.