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Daines releases full text of crypto tax plan

Daines released a bill proposing changes to federal tax rules for cryptocurrency transactions.

Daines releases full text of crypto tax plan
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Outlet credibilityPolitico82/100 HIGH
This article1 analysis · Oct 3, 2026
Politico
Sep 30, 2026
tl;dr

Sen. Steve Daines released a 56-page crypto tax bill that would change how some cryptocurrency transactions are taxed. The plan has support from three Republican senators, but no Democrats signed on, and its cost estimate was not immediately available.

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

Senator who released the crypto tax plan

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Bernie Moreno
R · OH · SEN

Senator who supports the plan

Tim Scott
R · SC · SEN

Senate Banking Committee chairman who supports the plan

Cynthia M. Lummis
R · WY · SEN

Senator who supports the plan

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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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