US Senate bill ADAPT Act proposes tailored crypto tax rules for stablecoins, staking and mining
- —ADAPT Act filed in the US Senate on Sept. 30 by Senator Steve Daines
- —Purchases with qualifying dollar stablecoins exempt from gain calculations
- —Fees and gas under $10 would not trigger a taxable event
- —Wash-sale and mark-to-market rules extended to digital assets
Why it matters: The bill could cut tax friction on payments and staking in the US and set a benchmark for other jurisdictions, including South Korea.
Source: Bloomingbit