U.S. lawmakers take another swing at crypto tax policy with revised bill

What Happened

Congressmen Steven Horsford and Max Miller reintroduced the PARITY Act on March 26, proposing updates to U.S. crypto taxation. The revised bill modifies de minimis exemptions for regulated payment stablecoins, removes the $200 threshold, and establishes a $1 deemed basis for exchanges. The legislation also applies wash sale rules to digital assets and distinguishes passive staking from trading activities. Implementation remains uncertain pending congressional tax discussions.

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