U.S. bipartisan lawmakers draw up tax bill with stablecoin and staking relief

Bipartisan lawmakers in the U.S. have drafted a new tax bill aimed at providing relief for stablecoin payments and staking income. The proposal seeks to exempt certain stablecoin transactions from capital gains taxes, which could significantly impact investor behavior by reducing tax liabilities. Furthermore, the bill allows stakers to defer income recognition for up to five years, offering greater flexibility in asset management. If enacted, this legislation may lead to increased participation in the cryptocurrency market, heightened demand for stablecoins, and ultimately, a more favorable regulatory environment. The anticipated influx of capital could further stimulate innovation and investment in the sector.