US lawmakers propose tax break for small stablecoin payments, staking rewards
US lawmakers are proposing a $200 tax exemption for stablecoin payments and a multi-year deferral option for crypto staking and mining rewards.
The group argued that expanding the GENIUS Act’s limits beyond stablecoin issuers would curb innovation and increase market concentration in favor of large incumbents. The letter compared crypto rewards to incentives commonly offered by banks and credit card companies, warning that banning similar features for stablecoins would undermine fair competition.
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