House lawmakers draft plan to ease taxes on small stablecoin transactions
Crypto Briefing
House lawmakers drafted a plan to exempt capital gains taxes on stablecoin transactions under $200.Summary
A bipartisan draft framework from Representatives Max Miller and Steven Horsford proposes significant changes to cryptocurrency taxation. Key provisions include exempting regulated, dollar-pegged stablecoin transactions under $200 from capital gains taxes. Furthermore, the plan addresses staking and mining rewards by allowing taxpayers to defer taxes on these rewards for up to five years, after which they would be taxed as income based on fair market value. The proposal also aims to integrate digital assets under securities-related tax rules, allow eligible traders to use mark-to-market accounting, and extend wash-sale restrictions to crypto assets.
(Source：Crypto Briefing)