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US Lawmakers Propose Tax Relief for Small Stablecoin Payments and Staking Rewards
Summary: According to reports, US legislators have introduced a discussion draft that would provide tax relief for small stablecoin transactions by exempting them from capital gains tax, including a tax exemption for stablecoin payments up to $200, and offering new deferral options for staking and mining rewards to alleviate the tax burden on ordinary cryptocurrency users. ...
According to reports, US legislators have introduced a discussion draft that would provide tax relief for small stablecoin transactions by exempting them from capital gains tax, including a tax exemption for stablecoin payments up to $200, and offering new deferral options for staking and mining rewards to alleviate the tax burden on ordinary cryptocurrency users. Under the draft, if the stablecoin is issued by an issuer approved under the 'GENIUS Act,' pegged to the US dollar, and trades within a narrow range around $1, users would not need to report gains or losses for transactions under $200.
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Link: US Lawmakers Propose Tax Relief for Small Stablecoin Payments and Staking Rewards [Copy]
