U.S. Senator Steve Daines, a Montana Republican, has introduced a 13-section bill to reform digital asset taxation. The draft would create a new IRC section providing nonrecognition of gains or losses on dollar-pegged stablecoin payments, along with a de minimis exemption for network fees of $10 or less per transaction. In exchange, the bill extends wash-sale rules to most digital assets, curbing the tax-loss harvesting practice that allowed traders to claim losses while maintaining their positions. The House of Representatives already advanced similar legislation, H.R. 10357, on September 16, 2026 by a vote of 38 to 5. These new rules would apply to transactions after December 31, 2026.
Source: Read the original article


