Makes tax rules clearer and simpler for people using digital assets like cryptocurrencies and stablecoins.
This bill would simplify how everyday people and businesses report taxes on digital assets, especially for small transactions and widely traded ones. It would mean fewer complex calculations for minor fees and certain stablecoin uses. The bill also creates a program for taxpayers to fix past digital asset tax errors.
Today, every digital asset transaction, no matter how small, can trigger a taxable event requiring complex calculations. Also, tax rules for stablecoins, mining, and staking are often unclear. After this bill, small digital asset fees (under $10) would generally not require gain/loss reporting. U.S. dollar stablecoins would have clearer tax treatment, and there would be a simplified accounting option for widely traded digital assets. Additionally, clearer rules for mining and staking income would be in place, and a voluntary disclosure program would help address past tax errors.
HR 10357 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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9 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.