US lawmakers propose crypto tax safe harbor for sub-$200 stablecoin payments and delayed staking income

On December 21, 2025, U.S. Representatives Max Miller and Steven Horsford released a draft crypto tax framework focused on small stablecoin transactions and staking and mining income. The proposal would exempt capital gains on payments under $200 made with regulated dollar-pegged stablecoins and offer taxpayers an option to defer taxes on staking rewards for up to five years. The plan also includes a mark-to-market regime allowing traders to report unrealized gains and losses annually.