US Senator Steve Daines proposed the ADAPT Act, aimed at establishing tax rules for scenarios such as stablecoin payments, staking, and lending. The bill stipulates exemption from capital gains tax when using compliant US dollar stablecoins to pay for goods and services, exemption from recognizing gains or losses for network or gas expenses of $10 or less, and extension of the washout rule to digital assets. The bill also involves provisions such as pledging mining income, non recognition framework for loans, and safe harbor for foreign investor transactions, with most provisions applicable to tax years after December 31, 2026.
