LAWMAKERS PROPOSE TAX RELIEF FOR SMALL STABLECOIN TRANSACTIONS

Summary from the TLDR Crypto newsletter

Representatives Max Miller and Steven Horsford proposed amending the IRS Code to exempt stablecoin transactions under $200 from capital gains taxes if issued by GENIUS Act-permitted issuers pegged to the dollar with stable trading ranges, while excluding brokers and dealers from the benefit. The draft allows taxpayers to defer income recognition on staking and mining rewards for up to five years rather than immediate taxation, addressing "phantom income" concerns, and extends securities lending treatment to digital asset lending arrangements.