Lawmakers in the US have put forward a discussion draft that would ease tax reporting for small stablecoin payments and let some crypto earners delay taxes on staking and mining rewards. Based on reports, the draft would create a safe harbor for regulated dollar-pegged stablecoins when they are used like cash. Under the plan, capital gains on stablecoin transactions under $200 would be exempt from tax. That $200 threshold is meant to stop everyday buys — coffee, tips, small fees — from triggering tax paperwork and capital gains calculations.
The exemption would only apply to stablecoins issued by a permitted issuer and that keep a stable peg to the USD. Reports have disclosed another major change: taxpayers could elect to defer taxes on staking and mining rewards. Instead of being taxed the moment rewards are received, a taxpayer could choose to defer recognition for up to five years. After that period ends the rewards would be taxed as ordinary income at fair market value.
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