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Crypto

U.S. moves to ease tax rules for stablecoin payments, PARITY bill amendment unveiled

The U.S. Congress is moving to cut tax burdens when payment stablecoins are used in everyday transactions, seeking to refine a framework that would allow digital assets to be used much like cash. A revised PARITY bill amendment would limit gain and loss recognition for certain stablecoin sales when a taxpayer’s cost basis is at least 99 percent of the token’s redemption value. It also proposes changes to taxation of staking rewards and includes wash-sale rules for digital assets.

Crypto

U.S. senator may unveil draft compromise on stablecoin interest in CLARITY bill this week

Republican U.S. Senator Thom Tillis is seeking to release a draft compromise this week to address controversy over whether crypto firms can pay interest on users' idle stablecoin balances under the CLARITY bill. Tillis is coordinating language with Democratic Senator Angela Alsobrooks. Banks have objected and Tillis has left room for changes. Even if unveiled, the bill still faces multiple Senate committee steps before any floor vote.

Crypto

Bitcoin rise keeps market alert as $75,000 and $80,000 resistance levels loom

Bitcoin has climbed above $74,000 to its highest level in four weeks, and the market is focusing on $75,000 as the next key threshold. Coindesk reported that the level is tied to hedging flows in the options market that could amplify volatility as dealers face negative gamma exposure. Technical indicators also point to $75,000, which aligns with the 100-day moving average. The next zone in focus is $80,000 to $80,600.