Crypto regulations are complex and inconsistent, prompting bipartisan efforts in Congress to modernize tax laws for digital assets. The PARITY Act aims to simplify and align treatment with traditional finance, providing exemptions for small stablecoin transactions and addressing wash sale loopholes. The bill also expands nonrecognition treatment for digital asset lending and clarifies terms within the tax code. If enacted, most provisions would take effect in 2026, giving time for regulatory adjustments.

Read more at Yahoo Finance: US introduces new bill to fix tax loopholes in crypto