Digital Asset PARITY Act

This bill changes federal tax rules for digital assets such as cryptocurrency. It says most sales of regulated dollar-backed stablecoins would not create a taxable gain or loss, and it applies wash sale and constructive sale rules, which now cover stocks and securities, to digital assets. It sets rules for taxing coins earned through mining and staking, including an option to delay counting them as income until they are sold. It also changes rules for lending digital assets, donating them to charity, and trading them, and it requires the Treasury to study and report on possible tax relief for small digital asset purchases.

Full text and official record on Congress.gov

Sponsors

• Max L. Miller Republican sponsor
• 3 cosponsors