Daines' Crypto Tax Bill Proposes Stablecoin Payment Exemption

US Senator Steve Daines introduced the Aligning Digital Assets with Principles of Taxation Act in the Senate on September 30.

The proposal aims to exempt qualifying purchases made with stablecoins from recognizing gains or losses, while extending established tax principles across other digital asset transactions.

Under the bill, taxpayers would recognize no gain or loss on eligible stablecoin payments, and Treasury would publish a qualifying stablecoin list at least once every three months.