Senator Steve Daines introduced the ADAPT Act, a 56-page bill that exempts stablecoin payments from capital gains tax, extends wash sale rules to digital assets, and clarifies tax treatment for network fees, staking, and lending. The legislation aims to provide clearer tax rules for cryptocurrency transactions while preventing loss harvesting and generally takes effect after December 31, 2026.
A U.S. Senate bill introduced by Republican Sen. Steve Daines proposes modernizing crypto tax code, including tax exemptions for small stablecoin purchases and new wash-sale rules. The proposal has backing from Senate Banking Chair Tim Scott and other senators, and could facilitate wider use of stablecoins for everyday payments if passed.
Discussions on X (Twitter) center on stablecoins and tokenized assets. A crypto tax bill introduced by U.S. Senate Republicans proposes modernized rules for digital asset taxation, including relief for stablecoin payments and clearer guidelines for mining and staking. Users highlight stablecoins' role as bridges between cryptocurrency and traditional stock markets.
U.S. Senate Republicans introduced a crypto tax bill exempting stablecoin purchases under $10 from taxes, eliminating wash-sale loopholes, and clarifying staking/mining taxation. The EU's ESMA expanded MiCA rules for DeFi and unauthorized stablecoins, while tokenization infrastructure development continues with major banks testing digital assets and payment systems.