On Thursday, the Blockchain Association asked Senate and House leaders to pass bipartisan legislation on digital asset taxes affecting 67 million Americans. The association calls for a small-transaction exemption, special tax treatment for stablecoins, deferral of tax on mining and validation rewards until their sale, and wash sale rules better suited to the industry. It is, however, backing neither of the two bills currently under consideration: the Digital Asset Tax Certainty Act in the House and the ADAPT Act in the Senate. The advanced proposals do not include the exemption for small bitcoin purchases sought by the industry, while the Clarity Act remains stalled after its Senate cloture vote failed 49-50. Regulators continue developing rules in parallel, with the OCC issuing its final GENIUS Act rule and the SEC and CFTC shaping market structure policy through rulemaking and enforcement.
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