U.S. Lawmakers Propose Draft "PARITY Act," Offering $200 Tax Exemption Only for Regulated Dollar Stablecoins

Odaily News U.S. Representatives Steven Horsford and Max Miller have released a discussion draft of the "Digital Asset PARITY Act," aiming to promote the development of digital assets and enhance compliance by establishing a unified tax framework. The draft proposes a de minimis tax exemption for regulated dollar stablecoin transactions under $200 to reduce the tax burden in daily payments; it also allows miners and stakers to defer taxes on rewards for up to 5 years.

Furthermore, the draft plans to extend the wash sale rule and the constructive sale rule to digital assets and introduces tax treatment methods such as mark-to-market valuation. It also clarifies tax rules for digital asset lending and charitable donations. Currently, the bill is still in the discussion stage and has not been formally submitted to Congress.