US Congressmen Steven Horsford and Max Miller have reintroduced the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation and Yields Act, aiming to update the country's crypto tax policies. The bill's revised version addresses 'de minimis' gains, which could exempt small transactions from tax reporting. It also proposes wash sale rules for digital assets and distinguishes between 'passive staking' and trading activities.
Although the bill's future is uncertain, industry insiders expect a strong push for crypto's inclusion in upcoming tax legislation.