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US Lawmakers Propose Digital Asset PARITY Act to Simplify Crypto Taxation
US Lawmakers Propose Digital Asset PARITY Act to Simplify Crypto Taxation
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BTCCSquare news:
US representatives Max Miller and Steven Horsford have introduced the bipartisan Digital Asset PARITY Act, aiming to streamline the taxation of cryptocurrencies. The bill seeks to align digital asset tax rules with those governing traditional financial instruments like stocks and commodities, reducing confusion for traders, investors, and everyday users.
A key provision includes a de minimis exemption for regulated stablecoins used in small transactions, eliminating capital gains reporting for routine purchases. The proposal targets specific gaps in the current tax code rather than imposing broad new restrictions, reflecting a pragmatic approach to crypto regulation.
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