Daines Unveils Crypto Tax Bill Pairing Payment Relief With Wash-Sale Rules
Senator Steve Daines introduced the ADAPT Act, a 56-page proposal aimed at changing several parts of the U.S. tax treatment for digital assets. It would exempt certain stablecoin payments for goods and services from capital gains or losses, and it also addresses network fees, staking, lending, and wash-sale rules.
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People using regulated U.S. dollar-backed stablecoins for payments would notice the bill in day-to-day transaction handling, because those payments are written to be outside capital gains or losses. That would matter to merchants and users who make goods-and-services payments in stablecoins, and it would also be visible to anyone tracking how digital asset taxes are handled in ordinary commerce.
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