Taxes are all the more reason to act.

1. The idea of taxable capitol gains on small purchases makes no sense. Way too complicated for people to report and if the government works hard to enforce the the issue it will kill the crypto industry in the US. So you are not likely to get any real revenue anyway.

2. The idea of taxing crypto to crypto trades also makes no sense. Especially when the government wont take crypto to pay the tax. For many folks it is a hardship asking for fiat currency that they simply do not have. It also makes for an accounting nightmare.

3. Once exchanges are normalized and regulated so they can do fiat to crypto for all coins the sooner exchanges will do the accounting like they do for stocks. It will also vastly cut down the number of transaction's. Right now to buy an alt coin and sell it back for fiat takes three potentially taxable events. With stocks it is one

The main problem with taxes is they are so hard to do the paper work. If the government wants it piece of the pie they need to make it EASY to figure out and pay the taxes.

Trump has a big problem with young people and crypto is kind of a young persons game. If he were to get in front of this, it could help him in the next election. Already he apparently has decided to take a states rights view with marijuana which is bound to make points with many young voters.