According to Cryptonewsland, two bipartisan House lawmakers have introduced the Digital Asset PARITY Act, a draft tax framework aimed at addressing long-standing digital asset tax uncertainty. The proposal includes a safe harbor for stablecoin payments under $200, a five-year deferral for staking rewards, and the extension of wash sale and constructive sale rules to crypto trading. The bill focuses on practical compliance issues and excludes brokers, dealers, and other cryptocurrencies from the stablecoin exemption. Additional provisions include optional mark-to-market accounting for professional traders and simplified charitable contribution rules for major cryptocurrencies.
House Lawmakers Propose Digital Asset PARITY Act to Address Crypto Tax Uncertainty
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Summary
Two bipartisan House lawmakers have introduced the Digital Asset PARITY Act, a new tax framework targeting digital asset regulation and regulatory uncertainty. The bill includes a safe harbor for stablecoin payments under $200, a five-year deferral for staking rewards, and expanded wash sale rules for crypto trading. It excludes brokers and dealers from the stablecoin exemption and adds optional mark-to-market accounting for professional traders and simplified charitable contribution rules for major cryptocurrencies.
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