U.S. Signals Shift Toward Making Crypto Tax-Normal, Not Tax-Hostile

Washington may be moving away from treating crypto as a problem to contain and toward integrating it cleanly into the tax system.

A bipartisan draft framework reportedly under discussion would exempt small stablecoin transactions under $200 from capital-gains tax, removing one of the biggest blockers to using dollar-pegged tokens for everyday payments. Staking and mining rewards could also be taxed on a deferred basis for up to five years, addressing the long-criticized “phantom income” issue that forces users to sell assets just to cover tax bills.

Beyond relief measures, the proposal hints at a structural reset. Digital assets could be brought under securities-style tax treatment, eligible traders may gain access to mark-to-market accounting, and crypto wash-sale loopholes would be closed. The result: fewer grey areas, fewer exploits, and closer alignment with traditional financial markets.

If this direction holds, the message isn’t preferential treatment for crypto — it’s normalization. Less regulatory friction, clearer rules, and a framework that allows stablecoins, staking, and professional trading to operate at scale without constant uncertainty.