Sen. Steve Daines is advancing a digital-asset tax reform bill that would exempt qualifying stablecoin payments near the $1 mark from gain-or-loss recognition and provide a de minimis exemption for network fees of $10 or less. The draft, circulated during September 23-25, 2026, would apply the stablecoin provision to transactions after December 31, 2026, while extending wash-sale rules to most digital assets and excluding qualified stablecoins. It also addresses mark-to-market elections, the source of staking and mining income, and safe harbors for foreign investors. The Senate proposal is intended to align with the House Ways and Means Committee’s Digital Asset Tax Certainty Act, H.R. 10357, which advanced on a 38-5 vote on September 16, 2026. Formal Senate introduction was expected the following week, with attention focused on potential cosponsors, differences from the House bill, and whether Senate leadership signals a vote before or after November.