Breaking US crypto tax bill draft by Rep Max Miller

Proposes 200 de minimis tax exemption for regulated stablecoin payments for everyday use not investment gains Possible annual cap to prevent abuse

Extends nonrecognition treatment to true digital asset lending where identical assets are returned Blocks disguised sales basis shifting and tax avoidance

Excludes NFTs illiquid and thinly traded tokens tokenized securities and synthetic or derivative assets

Allows mining and staking rewards to be deferred for tax up to five years instead of immediate recognition

Includes stronger reporting recordkeeping and anti abuse rules with Treasury guidance

Draft is bipartisan with Rep Steven Horsford as Democratic co lead Not formally introduced yet