Digital Asset Parity Act: New Tax Rules for Stablecoins & Staking
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Max Miller and Steven Horsford introduce the Digital Asset Parity Act, aiming to clarify digital asset tax rules. Stablecoins with a one-cent peg to the dollar avoid capital gains tax, while transaction fees dont count towards cost basis. A de minimis exemption is set for small trades, and lending, staking, or running validator nodes earnings are taxed as regular income. Crypto groups welcome the move, while Bitcoin fans express concern. The draft signals potential long-term crypto tax reforms.
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