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A Senate Bill Would Make Small Stablecoin Purchases Tax-Free and Close Crypto's Wash-Sale Loophole. What Changes for Bitcoin and XRP Holders?

Daines introduced a Senate crypto tax proposal that would exempt small stablecoin purchases and apply wash-sale rules to digital assets.

A Senate Bill Would Make Small Stablecoin Purchases Tax-Free and Close Crypto's Wash-Sale Loophole. What Changes for Bitcoin and XRP Holders?
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This article1 analysis · Oct 3, 2026
AOL.com
Sep 30, 2026
tl;dr

Sen. Steve Daines introduced a crypto tax bill that would exempt small stablecoin purchases and apply the wash-sale rule to digital assets. A separate House bill includes different stablecoin provisions, and both proposals remain pending.

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Steve Daines R · MT · SEN
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Steve Daines
R · MT · SEN

Introduced a Senate crypto tax bill

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Bernie Moreno
R · OH · SEN

Backer of the Senate crypto tax bill

Tim Scott
R · SC · SEN

Backer of the Senate crypto tax bill

Jason Smith
R · MO-8

House Ways and Means chair associated with the House crypto tax bill

Cynthia M. Lummis
R · WY · SEN

Backer of the Senate crypto tax bill

Part of a bigger story

7 OUTLETS
Sen. Steve Daines Introduces ADAPT Act Crypto Tax Bill

Outlets agree Senator Steve Daines presented a proposal to overhaul federal tax rules for digital assets. The legislation would exempt certain small stablecoin transactions from capital gains taxes while extending wash-sale restrictions to cryptocurrency trades. Center outlets focus on how the measure provides tax relief for everyday transactions while closing tax loopholes, though Politico highlights the bill's uncertain prospects due to an absence of Democratic co-sponsors.

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