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Legislative efforts regarding digital asset regulation are currently active in both the United States and Poland. In the U.S., Representative Steven Horsford is leveraging his position on the House Ways and Means Committee to advocate for the Digital Asset PARITY Act. This bipartisan bill seeks to establish tax exemptions for small stablecoin transactions and reform the taxation of staking rewards to address concerns over phantom income. A June 9 hearing is expected to be a critical milestone for these negotiations.
The U.S. Digital Asset PARITY Act proposes a de minimis tax exemption for stablecoin transactions under $200.
Rep. Horsford is conditioning his support for Republican-led tax proposals on the inclusion of amendments regarding validation rewards and charitable deduction guardrails.
Poland faces a political stalemate over crypto oversight, as President Nawrocki has issued a third veto against legislation intended to align the country with the European Union's MiCA framework.
Polish authorities are currently investigating the exchange Zondacrypto for alleged fraud and money laundering.
The bill aims to overhaul IRS treatment of digital assets by introducing tax exemptions for small transactions and aligning crypto tax rules with those governing traditional financial instruments.
President Nawrocki has vetoed the legislation multiple times, citing concerns regarding excessive regulation, limited transparency, and potential burdens on small businesses.
The hearing serves as a deadline for the House Ways and Means Committee to discuss potential amendments to the PARITY Act, which could determine the bill's legislative viability.
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