Congress Proposes Digital Asset PARITY Act, Targeting Bitcoin Tax Loophole and Favoring Regulated Stablecoins
Congress Proposes Digital Asset PARITY Act, Targeting Bitcoin Tax Loophole and Favoring Regulated Stablecoins
Congress has introduced the Digital Asset PARITY Act, a bipartisan discussion draft aiming to rewrite Section 1091. This proposed legislation seeks to categorize actively traded digital assets and their derivatives as "specified assets," which would lead to the removal of a widely used tax loophole for Bitcoin. Concurrently, the act proposes to carve out a narrow class of regulated payment stablecoins, exempting them from routine gain-or-loss recognition.
Congress has introduced the Digital Asset PARITY Act, a bipartisan discussion draft introduced by Reps. Steven Horsford and Max Miller, who would rewrite Section 1091 to cover “specified assets.” The category explicitly includes actively traded digital assets and their derivatives, and carves out a narrow class of regulated payment stablecoins from routine gain-or-loss recognition. The […]
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