The initiative advocates for common-sense tax policy to unlock bitcoin's utility as a method of payment
Block, Inc. (NYSE: XYZ) today launched "Bitcoin is Everyday Money," a campaign advocating for a de minimis tax exemption that would modernize how bitcoin is treated under U.S. tax law. The campaign kicks off in Washington, D.C. with on-the-ground activations, educational content, and a direct advocacy tool enabling Americans to contact their members of Congress in support of reform.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118758423/en/
Bitcoin is Everyday Money
Nearly 50 million Americans currently own bitcoin, and around 30 million Americans run small businesses. Starting November 10, 2025, millions of Square sellers in the U.S. became eligible to accept bitcoin at the point of sale. Today, under current tax rules, bitcoin is classified as property, meaning every purchase - from a cup of coffee to a group dinner - could trigger a taxable event. This creates unnecessary complexity for taxpayers, and discourages the everyday use of bitcoin as a method of payment. A value-based de minimis would exempt everyday transactions, such as those under $600, from capital gains taxation and reporting requirements, reducing compliance burdens for taxpayers, brokers, and the IRS, while unlocking bitcoin's potential as a peer-to-peer electronic cash system.
"Bitcoin has matured from a speculative asset into a practical payment method, but outdated tax policy is holding it back," said Owen Jennings, Business Lead at Block. "A de minimis tax exemption would further unlock bitcoin as everyday money, enabling people to actually spend it at their local coffee shop or restaurant without triggering complex tax calculations. This is about removing barriers to economic empowerment and letting innovation serve Main Street businesses and consumers."
The campaign features billboards and digital displays throughout Washington, D.C., alongside experiential activations at local businesses that demonstrate bitcoin's real-world use as a payment method. A dedicated campaign website enables visitors to learn about the policy and contact their representatives urging support for a $600 de minimis tax exemption for goods and services.
Block has been the leader in building bitcoin infrastructure and tools that make bitcoin more accessible. The company's bitcoin ecosystem includes Cash App's bitcoin buying, selling, and spending capabilities; Bitkey, a self-custody bitcoin wallet; Proto, a suite of bitcoin mining products and services; Spiral, which builds and funds open-source projects advancing bitcoin adoption; and Block’s recently announced Square Bitcoin, the first fully integrated bitcoin payments and wallet solution, built for local businesses of all sizes.* Consisting of Bitcoin Payments and Bitcoin Conversions, Square Bitcoin enables sellers to accept bitcoin payments, automatically convert card sales into bitcoin, and manage their bitcoin alongside their other business finances, all within the Square ecosystem.
The "Bitcoin is Everyday Money" campaign runs through December 17, 2025. To learn more and take action, visit https://btcismoney.xyz/
About Block
Block, Inc. (NYSE: XYZ) builds technology to increase access to the global economy. Each of our brands unlocks different aspects of the economy for more people. Square makes commerce and financial services accessible to sellers. Cash App is the easy way to spend, send, and store money. Afterpay is transforming the way customers manage their spending over time. TIDAL is a music platform that empowers artists to thrive as entrepreneurs. Bitkey is a simple self-custody wallet built for bitcoin. Proto is a suite of bitcoin mining products and services. Together, we’re helping build a financial system that is open to everyone. Block.xyz
*Blocks’ bitcoin products may not be available in all locations or for all customers and may be subject to regulatory approval, where applicable. Square Bitcoin is not available to customers in New York or outside the U.S. Stablecoin, Bitcoin Map, and Lightning Network are not available to New York residents. Bitcoin’s value can change rapidly. You may lose money. Square and Cash App bitcoin services are provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. is licensed where required, as applicable. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Bitcoin is a non-deposit, non-bank product that is not FDIC insured and involves risk, including monetary loss. For additional information, see the Bitcoin disclosures.
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