Kraken has called for a 'de minimis' tax exemption to alleviate the burden of crypto tax reporting, highlighting that 75% of the 56 million tax forms submitted to the IRS were for transactions under $50. The crypto exchange argues that the current reporting regime is overly complex and costly for both users and brokers, with little benefit to regulators. Kraken suggests implementing a meaningful threshold, indexed to inflation, to reduce unnecessary filings while maintaining revenue integrity. However, the push for comprehensive tax relief faces challenges, as current proposals only cover stablecoins and are tied to the stalled CLARITY Act, potentially delaying any changes until 2027.