US lawmakers propose an amendment to the Internal Revenue Code to ease cryptocurrency tax burden by exempting small stablecoin transactions from capital gains taxes and offering new deferral options for staking and mining rewards. The draft targets everyday crypto users, stipulating that gains or losses on stablecoin transactions of up to $200 need not be recognized, given certain conditions. The proposal also addresses concerns of phantom income from crypto staking and mining, with options to defer income recognition for up to five years.
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