Daines Proposes Tax Relief for Stablecoin Payments in ADAPT Act

U.S. Sen. Steve Daines has proposed tax rules that would generally prevent consumers from recognizing capital gains or losses when they use compliant dollar stablecoins to buy goods and services.

The 56-page Aligning Digital Assets with Principles of Taxation Act, or ADAPT Act, would also exempt eligible consumer transactions from broker information-reporting requirements. Traders and market makers would not qualify for that exemption.

The proposal would create a separate exception for digital assets used to pay network, transaction or gas fees of $10 or less. It also addresses taxation for staking and lending activities and would extend wash-sale and constructive-sale rules to digital assets.

Most provisions would apply to tax years or transactions after Dec. 31, 2026. The measure remains a proposal and would need congressional action before becoming law.