U.S. Lawmakers Unveil Digital Asset PARITY Act, Drawing Criticism Over Bitcoin Exclusion

According to the discussion draft released on June 26, the Digital Asset PARITY Act would cover stablecoin sales and passive staking rewards, including nonrecognition rules and an optional five-tax-year deferral, but it has not yet been formally introduced in Congress.

BTC

35d ago

Fact Check

The core facts of the statement—the existence of the Digital Asset PARITY Act, its primary tax provisions (stablecoin nonrecognition and staking deferral), the criticism over Bitcoin's exclusion, and its status as a discussion draft—are all corroborated by high-authority crypto news sources from March 2026. The only minor discrepancy is the date 'June 26' in the user's text versus 'March 26' in the reports; however, the specific legislative details match the March 2026 release exactly.

Summary

U.S. lawmakers released a discussion draft of the Digital Asset PARITY Act on June 26, outlining tax treatment changes for certain digital asset transactions. The draft would allow no gain or loss recognition for qualifying stablecoin sales under specified conditions and would permit passive participants in proof-of-stake networks to elect a five-tax-year deferral for staking rewards. The measure has not yet been formally introduced in Congress. Earlier criticism from the Bitcoin Policy Institute said the proposal favors proof-of-stake activity while excluding proof-of-work mining, creating what it described as a technology-biased framework that disadvantages Bitcoin miners.

Terms & Concepts

Stablecoin: A cryptocurrency designed to maintain a stable value, often by being pegged to a fiat currency such as the U.S. dollar.
Proof-of-stake (PoS): A blockchain validation system where participants lock tokens to help secure the network and earn rewards.
Proof-of-work (PoW): A blockchain mechanism where miners use computing power to validate transactions and receive block rewards.