U.S. lawmakers propose tax exemptions for small stablecoin payments and staking rewards

Odaily reported that U.S. lawmakers have introduced a discussion draft that aims to ease the tax burden on ordinary cryptocurrency users by exempting small stablecoin transactions from capital gains tax. The draft includes a $200 tax exemption for stablecoin payments and introduces new deferral options for staking and mining rewards. According to the draft, if a stablecoin is issued by an issuer approved under the GENIUS Act, is pegged to the U.S. dollar, and its trading price remains within a narrow range around $1, users will not need to recognize gains or losses for transactions not exceeding $200. (Cointelegraph)