KPMG's Jamison Sites Flags Ongoing U.S. Stablecoin Tax Ambiguity Despite Regulatory Bills

KPMG principal Jamison Sites said in an interview that U.S. tax rules still do not clearly define stablecoins, even as legislation such as the CLARITY Act and GENIUS Act advances. He warned that this gap forces businesses accepting stablecoin payments to track cost basis on each transaction, complicating reporting and potentially slowing broader adoption.