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Analyze HR10357 - Digital Asset Tax Certainty Act | DoTheySupportIt

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Analyze HR10357 - Digital Asset Tax Certainty Act

HR10357

Digital Asset Tax Certainty Act

This legislation would comprehensively reform the tax treatment of digital assets under the Internal Revenue Code. Key provisions include exempting de minimis digital asset fees under ten dollars from capital gains tax, eliminating tax realization events for U.S. dollar stablecoins fluctuating near their peg, and offering simplified accounting for widely traded digital assets. The bill also establishes tax parity between digital assets and traditional financial instruments regarding lending and dealer mark-to-market elections, clarifies that mining and staking rewards constitute ordinary income, and mandates a Treasury study on using blockchain technology for tax compliance.

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