Senate Finance Committee Chair Mike Crapo stated he intends to finalize the legislation by the end of the year, although he noted that the policy still faces several hurdles. The Crypto Council for Innovation supports the bill as a necessary step for the 67 million Americans using digital assets. The framework aims to modernize a tax code that Senator Daines said has not kept pace with the mainstream adoption of digital assets.
Wednesday, October 21, 2026
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Senate Republicans Introduce ADAPT Act Crypto Tax Bill
Crypto20 days ago
Digital asset holders in the U.S. would no longer pay taxes on network fees under $10 or stablecoin transactions within a 3% price range of one dollar if a new legislative proposal passes. Senator Steve Daines introduced the ADAPT Act to establish a standardized tax framework for cryptocurrency, which would apply wash sale rules to digital assets to close existing tax loss loopholes. The bill also removes formal appraisal requirements for charitable donations of crypto and exempts foreign investors using U.S. brokers from being treated as conducting U.S. business, with changes taking effect in 2027 if enacted.
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