U.S. lawmakers take another swing at crypto tax policy with revised bill

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email U.S. lawmakers take another swing at crypto tax policy with revised bill A bill would amend how the IRS would approach crypto taxes. By Nikhilesh De Apr 14, 2026, 2:09 a.m. Make preferred on U.S. Capitol building (Jesse Hamilton/CoinDesk) Congressmen Steven Horsford (D-Nev.) and Max Miller (R-Ohio) re-introduced their Digital Asset Protection, Accountability, Regulation, Innovation, Taxation and Yields (PARITY) Act late last month, seeking to update how the U.S. addresses crypto and taxes. Congress is going to address taxes (in general) in the coming months, and crypto may end up part of this. It's pretty important for anyone in the U.S. who owns any crypto at all, given they will have to report on their digital asset holdings and transactions. The PARITY Act was first released in discussion draft form last December and re-released on March 26 for further review. The most immediately visible change appears to be the section addressing "de minimis" gains. De minimis exemptions generally allow for certain transactions to be exempted from tax reporting. Under such an exemption, people don't have to report the transaction, or worry about the tax burden that might otherwise follow. The industry has long sought a de minimis exemption for small transactions, which could make it easier for individuals to do things like buy coffee without having to report a capital gain or loss on the crypto used in that transaction. The December 2025 version of the PARITY Act began with a section addressing de minimis exemptions for payments made via "regulated payment stablecoins," with a note saying the threshold would be $200. While the section did not appear to extend these exemptions to digital assets like Bitcoin BTC $ 74,458.33 , the note went on to say that it pointed to stablecoins specifically because of the GENIUS Act. The March 2026 version of the text did not explicitly say there should be a de minimis exemption, but portions seemed to address that concern: "In the case of any sale of a regulated payment stablecoin, no gain or loss shall be recognized on such sale unless the taxpayer’s basis in such stablecoin is less than 99 percent of the redemption value of such stablecoin," the bill said. It removed the $200 threshold and created a deemed basis of $1 for exchanges, which are separate from sales of the stablecoin. The latest draft would also apply wash sale rules to digital asset transactions, which is not a particularly controversial position — Senator Cynthia Lummis (R-Wyo.) even included wash sale provisions in her tax bill last year. This bill would also draw a distinction between "passive staking" and activities like trading. It's unclear what the next steps for this bill might be; while there is talk about a reconciliation tax bill, and U.S. President Donald Trump revealed his fiscal year 2027 budget requests, it is far from certain that the reconciliation bill will happen or that crypto will be part of it. Nevertheless, conversations with industry participants over the past few weeks suggest that there will be a strong push to include crypto in any tax legislation that's likely to become law. Editor's note: This article was originally sent as part of CoinDesk's State of Crypto newsletter earlier this month. Newsletters State of Crypto More For You Coinbase VP of international policy leaves for OpenAI By Ian Allison | Edited by Stephen Alpher 6 hours ago Tom Duff Gordon exited to join OpenAI as head of EMEA Policy, a spokesperson for Coinbase said. What to know : Tom Duff Gordon had been with Coinbase for nearly 4 years. Prior to working at Coinbase, he spent 8.5 years as a banker at Credit Suisse. Read full story Latest Crypto News This little-known token just posted a 6,000% rally — and traders are trying to figure out why 5 hours ago Bitcoin erases weekend decline, returns to $73,400 as oil retreats back under $100 6 hours ago Coinbase VP of international policy leaves for OpenAI 6 hours ago Crypto wallet firm Exodus sues W3C and its CEO Garth Howat, seeking to compel $175M acquisition 7 hours ago White House crypto adviser Witt says other Clarity Act hurdles being cleared 7 hours ago U.S. SEC says software allowing crypto wallet transactions not considered broker 8 hours ago Top Stories Crypto exchange Kraken targeted in extortion attempt but says there was no breach and no client funds at risk 10 hours ago Bankers rebuff White House claim that stablecoin yield doesn't threaten deposits 10 hours ago Circle CEO says he won’t freeze USDC without a court order even as hackers walk away with millions 10 hours ago Bitmine's Tom Lee calls ether 'the wartime store of value' as holdings hit 4.87 million tokens 12 hours ago Nearly $120 million of XRP just moved to Coinbase in whale transaction 12 hours ago Strategy buys 13,927 bitcoin for $1 billion, entirely through STRC 14 hours ago