Senate Republicans: Introduce ADAPT Act Crypto Tax Bill
Senate Republicans introduce ADAPT Act crypto tax bill exempting stablecoin payments within 3% of $1 and gas fees under $10, applying wash sale rules crypto from 2027.
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Senate Republicans introduced the ADAPT Act, a new crypto tax bill that exempts stablecoin payments trading within 3% of $1 and waives taxes on network fees below $10 per transaction. The legislation extends wash sale rules crypto to close loss-harvesting loopholes, clarifies taxation locations for mining and staking rewards, shields foreign investors trading via US brokers from US business treatment, and eliminates formal appraisals for crypto donations to charity, with all provisions set to begin in 2027.
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