Good news for US cryptocurrency users—tax reforms for stablecoin payments and reward systems are underway

To promote the everyday use of digital assets, new tax support measures are being considered in the U.S. Congress. The bill, led by Representative Max Miller of Ohio and Representative Steven Horsford of Nevada, aims to significantly reduce the burden on users making small payments using stablecoins.

$200 Favorable Treatment for Stablecoin Payments

The core of this proposal is a new tax treatment for transactions involving stablecoins pegged to the US dollar. As long as the stablecoin price remains within a stable range near 1 dollar, assets issued under the GENIUS Act, and supplied by authorized issuers, can exclude profits or losses from taxable income for transactions up to a maximum of $200.

Until now, even small payments made with stablecoins have technically been subject to capital gains tax, requiring users to keep complex records and report their transactions. The new system aims to eliminate this complexity and encourage the use of regulated stablecoins for everyday consumer payments.

Tax Deferral Options for Staking and Mining Rewards

Additionally, new options for deferring taxes on rewards earned from staking and mining are introduced. This measure allows recipients to defer paying taxes until a later year, rather than in the year they receive the rewards, helping optimize cash flow.

Expectations for Expanded Payments through Regulatory Improvements

The background of the proposal reflects the reality that digital asset payments are expanding globally. By amending existing domestic revenue laws, the U.S. aims to make the use of stablecoins in daily life more feasible and reduce the tax burden on cryptocurrency users. As the stability of stablecoins and regulatory clarity improve, it is likely that more consumers and businesses will adopt these financial tools.