US Senator Daines Circulates Draft Crypto Tax Bill Ahead of Next Week's Introduction
- —13-section draft expected to be formally introduced in the Senate next week
- —Stablecoin payments and network fees under $10 would avoid gain or loss recognition
- —Wash-sale rules would extend to crypto, limiting losses on repurchases within 30 days
- —House Ways and Means approved its own crypto tax bill 38-5, but a floor vote is delayed
Why it matters: The bill could reduce tax uncertainty for US crypto investors and businesses, though passage remains distant.
Source: CoinDesk Japan