Kraken Urges Tax-Free Minimum for Crypto Payments, Flexible Timing for Staking Taxes

Kraken said it has submitted 56 million cryptocurrency transaction tax forms to the U.S. Internal Revenue Service (IRS) for the 2025 tax year, according to CoinDesk on April 22, as cited by DeepFlow TechFlow. Of those filings, about 18.5 million were for transactions under $1, 74% were under $50, and just 8.5% exceeded $600. The exchange argued that the lack of a minimum exemption for crypto payments, combined with staking rewards being taxed as ordinary income when received, is creating a heavy reporting burden for investors. Kraken called on Congress to introduce a broader, inflation-adjusted de minimis exemption and to let taxpayers choose whether to pay tax on staking rewards at receipt or at the time of sale.