Digital Asset Tax Certainty Act

This bill would change federal tax rules for digital assets such as cryptocurrencies and U.S. dollar stablecoins. It would stop taxing gains or losses when someone uses a digital asset to pay network or transaction fees of $10 or less, and it would let taxpayers choose a simpler yearly method to figure gains and losses on widely traded digital assets. It would treat qualifying stablecoin trades at their redemption value. It would also apply existing rules for securities, such as wash sale and lending rules, to traded digital assets, and it would change how charitable donations of certain digital assets are treated.

Full text and official record on Congress.gov

Sponsors

• Jason Smith Republican sponsor
• 8 cosponsors