{"id":16502,"date":"2026-03-28T07:48:27","date_gmt":"2026-03-28T14:48:27","guid":{"rendered":"https:\/\/jasonsblog.ddns.net\/?p=16502"},"modified":"2026-03-28T07:48:27","modified_gmt":"2026-03-28T14:48:27","slug":"us-lawmakers-publish-crypto-tax-proposal-without-bitcoin-tax-exemption","status":"publish","type":"post","link":"https:\/\/jasonsblog.ddns.net\/index.php\/2026\/03\/28\/us-lawmakers-publish-crypto-tax-proposal-without-bitcoin-tax-exemption\/","title":{"rendered":"US Lawmakers Publish Crypto Tax Proposal Without Bitcoin Tax Exemption"},"content":{"rendered":"\n

The government doesn’t want to allow Bitcoin to gain any traction as money, so no tax exemption even for a reasonable purchase amount. This is significant as their fiat currency is trash and going down in value over time, where Bitcoin with its limited quantity is an escape that will grow over time, even with the bankers crashing it a bit here and there. Though, the global economy and all this debt, money printing… is eventually going to crash hard and they’ll lose control, which could be the time Bitcoin goes to the moon along with gold and other precious metals, as people look to protect the value of what they have left. <\/p>\n\n\n\n

https:\/\/cointelegraph.com\/news\/us-lawmakers-crypto-tax-no-bitcoin-exemption<\/a><\/p>\n\n\n

<\/div><\/div><\/div>\n\n\n
The bill proposes exempting dollar-pegged stablecoins from gains or losses if the tokens remain tightly pegged to the underlying fiat currency.<\/h5>\n\n\n\n
\"US<\/figure>\n\n\n\n

US Representatives Max Miller and Steven Horsford published a discussion draft bill on Thursday titled the \u2018\u2018Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act\u2019\u2019 or the \u2018\u2018Digital Asset PARITY Act,\u201d to overhaul the tax code for digital assets.<\/p>\n\n\n\n

The Digital Asset PARITY Act seeks to overhaul the Internal Revenue Code of 1986 by adding provisions that would clarify the tax treatment of digital assets.<\/p>\n\n\n\n

The legislation said that stablecoins are not subject to gains if the cost basis, or the amount paid by the investor, does not fluctuate by more than 1% of $1 or $0.01, according to the discussion draft<\/a>. <\/p>\n\n\n\n

Transaction costs incurred to acquire or move regulated dollar-pegged stablecoins<\/a> cannot be counted toward an investor\u2019s cost basis, according to the bill.<\/p>\n\n\n\n

\"Taxes,
The Digital Asset PARITY Act. Source: <\/em>Digital Chamber<\/em><\/a><\/figcaption><\/figure>\n\n\n\n

The bill also introduces a de minimis tax exemption for stablecoin transactions below $200, meaning that stablecoin transactions below the $200 threshold do not trigger tax or reporting requirements. A total annual exemption cap is yet to be determined. <\/p>\n\n\n\n

Income from lending, staking or income earned through \u201cpassive\u201d validator services is treated as part of the recipient’s gross income every year, and calculated using \u201cfair market\u201d value, the draft said. <\/p>\n\n\n\n

The Digital Asset PARITY Act has not yet been introduced to Congress; it was published as a discussion draft to open up debate between lawmakers, stakeholders and the crypto industry about how to overhaul crypto tax policy in the US<\/a>.<\/p>\n\n\n\n

\"Taxes,
Rep. Steven Horsford, pictured center, and Rep. Max Miller, pictured right, speak about the future of crypto policy at the DC Blockchain Summit. Source: <\/em>Digital Chamber<\/em><\/a><\/figcaption><\/figure>\n\n\n\n

Crypto tax proposal highlights schism in the crypto industry<\/h2>\n\n\n\n

\u201cWe need digital asset tax clarity or activity will never fully onshore,\u201d Cody Carbone, the CEO of crypto advocacy organization Digital Chamber, said<\/a> in response to the discussion draft.<\/p>\n\n\n\n

However, Bitcoiners noted that the bill includes only a de minimis tax exemption for stablecoins, not Bitcoin, similar to pending legislation, including the CLARITY crypto market structure bill, which also lacks a BTC de minimis tax exemption<\/a>.<\/p>\n\n\n\n

\u201cThis is the wrong direction to go in,\u201d Pierre Rochard, CEO of The Bitcoin Bond Company, a BTC financial product issuer, said about the draft.<\/p>\n\n\n\n

\u201cIt\u2019s Bitcoin that should have a de minimis tax exemption. Stablecoins are not decentralized, and they are not permissionless. They\u2019re not real money; they\u2019re just fiat,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government doesn’t want to allow Bitcoin to gain any traction as money, so no tax exemption even for a reasonable purchase amount. This is significant as their fiat currency is trash and going down in value over time, where Bitcoin with its limited quantity is an escape that will grow over time, even with […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,7],"tags":[],"class_list":["post-16502","post","type-post","status-publish","format-standard","hentry","category-tech","category-world"],"blocksy_meta":[],"featured_image_src":null,"author_info":{"display_name":"Jason","author_link":"https:\/\/jasonsblog.ddns.net\/index.php\/author\/jturning\/"},"_links":{"self":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/16502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/comments?post=16502"}],"version-history":[{"count":1,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/16502\/revisions"}],"predecessor-version":[{"id":16503,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/16502\/revisions\/16503"}],"wp:attachment":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/media?parent=16502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/categories?post=16502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/tags?post=16502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}