[Coinbase CPO Calls on U.S. Lawmakers to Reform Crypto Tax Rules, Says Current Laws Are Outdated] According to Cryptopolitan, Coinbase Chief Policy Officer Faryar Shirzad has called on U.S. lawmakers to reform cryptocurrency tax rules, stating that current laws are outdated. Treating crypto assets as "property" results in tax obligations being triggered even for actions like paying gas fees or using stablecoins for everyday transactions. Users are required to calculate cost basis, track gains and losses, and report them, creating a compliance burden. Coinbase data shows that tax-related customer service inquiries have increased by 34% compared to the same period last year, and it is estimated that millions of 1099-DA forms will be issued by 2025, many involving transactions of very small amounts. Shirzad pointed out that over 63% of users have gaps in their cost basis records, leading taxpayers to either overpay taxes or be forced to manually reconcile transactions. He suggested establishing a minimum exemption threshold for small transactions to eliminate the burden of reporting minor payments. If tax rules are not adjusted, it could push users and innovation overseas, impacting the U.S.'s competitiveness in the crypto space.