Article
Bitcoin Black Sheep, Stablecoin Favorite Child Under Revised Crypto Bill
A revised bipartisan crypto tax bill introduces significant changes to how cryptocurrency transactions are taxed, including new rules for staking rewards deferral and stablecoin basis calculations. The legislation proposes different treatment for proof-of-stake versus proof-of-work validation methods, while establishing a 99-cent basis threshold for regulated payment stablecoins pegged to the U.S. dollar.
Cadwalader, Wickersham & Taft LLP