The US House of Representatives is considering establishing a tax safe harbor for stablecoins and crypto asset pledging, and clarifying the tax system's definition.

The proposal exempts transactions of regulated stablecoins with a long-term value between $0.99 and $1.01 from capital gains tax. It also seeks to establish safe harbor rules for the distribution and processing of staking and mining rewards that involve blockchain transaction verification. The draft also incorporates cryptocurrencies into a tax system that covers securities transactions and certain commodity transactions.