Crypto bill would make stablecoin purchases and sub-$10 network fees tax-free

The proposal would make qualifying stablecoin purchases and network fees under $10 tax-free, while adding wash-sale rules for digital assets. That gives everyday stablecoin use an easier path but closes off crypto tax-loss harvesting, alongside clearer treatment for staking and mining rewards.

Senate Republicans introduced the 56-page bill on September 30, backed by Sen. Steve Daines, Tim Scott, Cynthia Lummis and Bernie Moreno. It also eases reporting requirements for wallet and DeFi developers, with the provisions taking effect in 2027 if enacted.