Bipartisan lawmakers in the United States have introduced the PARITY Act to modernize tax rules for digital assets.

CoinFeed reported on May 30th, citing Forbes, that a bipartisan group of lawmakers, including Democratic Representative Steven Horsford (NV) and Republican Representative Max Miller (OH), formally introduced the "Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Benefits Act" (PARITY Act). The Act aims to modernize digital asset tax rules, strengthen investor protection, provide market certainty, prevent abuse, and help ordinary people participate in crypto, build wealth, and reduce income inequality. Representative Jason Smith, Chairman of the House Ways and Means Committee, stated that any crypto tax bill must have bipartisan support to move forward. The U.S. Congress released a draft tax policy discussion in March and held a bipartisan roundtable in May to discuss the crypto asset tax framework.