Sponsors
11 Republican
Rudy Yakym IIIIN-2
This legislation amends the Internal Revenue Code to alleviate tax compliance burdens for digital asset owners. It creates a tax exemption for capital gains on de minimis network fees under $10, introduces an optional simplified aggregate accounting method for widely traded digital assets, and allows qualified U.S. dollar stablecoins to be treated at their redemption value for tax basis determinations. Additionally, the bill updates broker reporting requirements to exempt these de minimis and stablecoin transactions from standard reporting.
This bill is exceptionally supportive of the crypto industry as it targets major operational frictions in crypto taxation. By exempting de minimis network fees under $10, the bill removes the administrative nightmare of tracking capital gains on blockchain gas fees. Furthermore, treating qualified U.S. dollar stablecoins at their redemption value essentially removes capital gains tracking from stablecoin transactions, allowing them to function efficiently as digital cash. The optional simplified accounting for widely traded digital assets also provides a practical alternative to complex cost-basis tracking for active traders. Collectively, these provisions dramatically lower compliance costs, reduce regulatory friction, and facilitate the mainstream integration of digital assets and stablecoins into the everyday economy.
Every member who has sponsored, cosponsored or voted on this bill. Pick a vote to see how each member voted on it, or narrow by party, name or state.
1 Republican