Crypto Tax Bill Targets $500M in Net Receipts
The proposal would cut tax friction for stablecoin payments and fees while extending wash-sale and mark-to-market rules that raise more than $4B.
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The proposal would cut tax friction for stablecoin payments and fees while extending wash-sale and mark-to-market rules that raise more than $4B.
The committee will weigh tax deferral for newly generated tokens and broader wash-sale and constructive-sale rules for digital assets.
The draft would extend wash-sale rules to digital assets and end a long-standing tax break on Bitcoin, while shielding regulated payment stablecoins from routine gain-or-loss treatment.
Treasury's 2026 budget applies equity-style 30-day rules to digital assets and slaps a 30% mining electricity tax on proof-of-work operators — but a pro-crypto Congress has already buried similar…