US House draft bill proposes tax benefits for crypto investors

A draft of the Digital Asset PARITY Act has been released in the U.S. House of Representatives, proposing several tax benefits for cryptocurrency investments, CoinDesk reported. Key provisions of the bill include a tax exemption for everyday payments made with stablecoins for transactions under $200 and a tax deferral of up to five years on income from staking and mining. The legislation also seeks to apply wash sale rules to digital assets and provide tax incentives for foreign investors.