Republicans just dropped a new crypto tax bill in the Senate — the ADAPT Act. Here's what changes:
The Good:
• Pay with stablecoins (pegged within 3% of $1)? No tax event. Finally.
• Network fees under $10 per tx? Exempt.
• Clear rules for mining and staking income.
• Foreign investors trading via US brokers won't trigger US tax nexus.
• Donate crypto to charity = same treatment as stocks. No appraisal hassle.
The Pain:
• Wash sale rule coming to crypto. Right now you can sell at a loss, rebuy instantly, and harvest that loss for taxes. Under ADAPT, you'd have to wait 30 days to rebuy — just like stocks.
• If this passes, December 2026 is your last window to use the old playbook.
Sponsored by Senator Steve Daines, backed by Tim Scott, Cynthia Lummis, and Bernie Moreno. If it passes, goes live in 2027.
First the GENIUS Act, now this. The US is building the rails to make crypto actual money. Bullish for adoption, but RIP to degen tax strategies.
The Good:
• Pay with stablecoins (pegged within 3% of $1)? No tax event. Finally.
• Network fees under $10 per tx? Exempt.
• Clear rules for mining and staking income.
• Foreign investors trading via US brokers won't trigger US tax nexus.
• Donate crypto to charity = same treatment as stocks. No appraisal hassle.
The Pain:
• Wash sale rule coming to crypto. Right now you can sell at a loss, rebuy instantly, and harvest that loss for taxes. Under ADAPT, you'd have to wait 30 days to rebuy — just like stocks.
• If this passes, December 2026 is your last window to use the old playbook.
Sponsored by Senator Steve Daines, backed by Tim Scott, Cynthia Lummis, and Bernie Moreno. If it passes, goes live in 2027.
First the GENIUS Act, now this. The US is building the rails to make crypto actual money. Bullish for adoption, but RIP to degen tax strategies.
