PARITY Act: A New Era for Crypto Taxation
The PARITY Act has arrived, and it’s ready to shake up the crypto tax landscape in the United States. With bipartisan backing from Representatives Max Miller and Steven Horsford, this proposal aims to clarify and streamline how we tax cryptocurrencies. Specifically, it targets stablecoins, mining, and staking, offering a $200 de minimis exemption for stablecoin transactions and delaying tax obligations on mining and staking rewards for up to five years. However, NFTs and illiquid tokens are left out of the tax breaks, which raises some eyebrows.
All About the PARITY Act
The PARITY Act is all about creating some much-needed clarity in the chaotic world of crypto regulation. During a recent congressional hearing, Rep. Miller pointed out…
