🇺🇸 PROPOSED NEW CRYPTO TAX FRAMEWORK IN THE US
🔹 Bipartisan lawmakers have introduced the Digital Asset PARITY Act, aiming to establish a new tax framework for crypto.
🔹 The bill proposes exempting capital gains tax on transactions settled using USD-pegged stablecoins valued under $200.
🔹 Regulations on stablecoins are expected to apply after December 31, 2025, and the entire bill could be passed before August 2026.
🔹 For stablecoins, there are no profit-driven tax benefits. The main goal is to reduce the tax compliance burden, as stablecoins can still fluctuate slightly around $0.01, and technically, each use could incur a tax liability. Without this exemption, users and sellers would have to track the cost basis for each small transaction, creating a paperwork nightmare.
🔹 In addition, the bill also proposes deferring taxes for up to 5 years on staking and crypto mining rewards, before taxing them as regular income.
🔹 The bill extends wash sale regulations to crypto and allows professional traders to apply the mark-to-market method.
🔹 Some crypto lending activities would be considered tax-exempt, and passive staking at the protocol level by investment funds would not be considered a business activity.
