U.S. lawmakers propose tax breaks for small stablecoin payments and staking rewards

U.S. lawmakers have proposed a discussion draft that aims to alleviate the tax burden on ordinary cryptocurrency users by exempting capital gains tax on small stablecoin transactions, including a $200 tax exemption for stablecoin payments, and providing new deferral options for staking and mining rewards.

According to the draft, if a stablecoin is issued by an authorized issuer under the "GENIUS Act," is pegged to the U.S. dollar, and maintains a trading price within a narrow range around $1, then users do not need to report gains or losses on transactions not exceeding $200.