A bill to regulate cryptocurrency taxation has been introduced in the US Congress.
A group of members of the United States Congress has reintroduced a bill aimed at improving the taxation system for cryptocurrencies, Zamin.uz reports.
The document seeks to update the current tax code to reflect modern developments in the digital asset space. It also proposes analyzing special exemptions for small transactions by the Internal Revenue Service.
This was reported by industry publications. The bill, introduced by a group of lawmakers led by Representatives Steven Horsford and Max Miller, aims to protect digital assets, improve accountability, and bring order to innovation.
According to the proposed amendment, transactions involving stablecoins—cryptocurrencies with a stable value—would not be recorded as gains or losses if their price does not fall below ninety percent of the redemption value. This would create additional convenience for investors and everyday users.
The bill also specifies the need to create a safe environment for trades conducted through brokers, apply rules limiting artificial trading in relation to digital assets, and clearly define how income earned through validation activities should be taxed. One of the key points is that tax authorities should study the possibility of applying tax exemptions for small transactions under two hundred dollars.
Representatives of the cryptocurrency industry have long advocated for exempting small payments—such as buying a cup of coffee using digital currency—from tax reporting requirements. It is expected that this measure will promote the widespread use of cryptocurrencies as a means of payment in daily life.
Currently, accounting for such small transactions is considered a complex process. As Representative Horsford emphasized, tax policy is a fundamental principle that determines the place of digital assets in the financial system.
In his view, the current tax code is morally outdated and fails to fully cover modern financial activities such as rewards from holding cryptocurrencies, charitable donations, or digital lending. The new bill is designed precisely to fill these legal gaps.
