A bipartisan group of U.S. lawmakers reintroduced the Parity Act on May 20, 2026, revising crypto tax rules. The bill updates language on regulated payment stablecoins—stating no gain or loss unless cost basis falls below 99% of redemption value—and creates safe harbors for broker transactions and validator rewards. It also directs the IRS to study the feasibility and abuse risks of a de minimis exemption for small digital asset transactions (under $200). The crypto industry argues such an exemption would facilitate everyday crypto payments. Representative Horsford called the bill a first step toward broader crypto tax reform.

Key facts

• Bipartisan lawmakers reintroduced Parity Act on May 20, 2026.
• Updated stablecoin rule: no gain/loss unless cost basis <99% of redemption value.
• Creates safe harbors for broker trades and validator income.
• Directs IRS to study de minimis exemption for transactions under $200.
• Bill seen as first step toward comprehensive crypto tax reform.