Lawmakers in the U.S. are creating a new way of taxing cryptocurrency, making it easier on everyday users and traders with regards to taxation:
Spending stablecoins worth less than $200 is exempt from capital gains tax (this will include all regulated coins)
Rewards for staking and mining will be taxed at a later time, no sooner than five years from earning them
Cryptocurrency will be treated as a security
Wash Sale rules will now apply to cryptocurrency losses
Users may also be able to use Mark to Market Accounting when trading cryptocurrency
The ultimate goal of these proposed changes is to eliminate the complexity and burden that exists today for users who have small amounts of cryptocurrency.