Revised PARITY Act brings crypto wash sale rules, stablecoin safe harbor, and staking tax deferral

Reps. Miller (R-OH) and Horsford (D-NV) reintroduced a revised version of their bipartisan PARITY Act, overhauling crypto tax treatment on multiple fronts. The bill extends stock-market wash sale rules to digital assets, creates a stablecoin safe harbor where gains aren't recognized unless basis drops below 99% of redemption value, and lets validators elect to defer tax on staking rewards until sale. The March revision narrowed the digital asset definition to exclude equity and debt-like tokens and dropped the earlier $200 de minimis cap on stablecoin transactions — a significant rewrite from the December 2025 discussion draft.

TLDR by @Benthic

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• PARITY Act Crypto 2026: Stablecoin Tax Reform in the US - Mercuryo (mercuryo.io)
• Bipartisan 'PARITY' Act Introduced to Modernize Digital Asset Tax ... (tax.thomsonreuters.com)
• The Digital Asset PARITY Act and the Tax Frictions It Removes - BitGo (bitgo.com)
• Congress Eyes Major Tax Reforms for Digital Assets - MGO CPA (mgocpa.com)
• Congressman Max Miller Releases Bipartisan Legislation to ... (maxmiller.house.gov)

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