Max Miller and Steven Horsford are working on a bipartisan tax legislation for cryptocurrencies focused on stablecoins and staking earnings.
Bipartisan Tax Proposal: A bipartisan group in the U.S. House, led by Representatives Max Miller and Steven Horsford, is proposing a new framework to clarify crypto taxation, focusing on small stablecoin payments and income from staking and mining.
Stablecoin Capital Gains Relief: The draft proposal aims to exempt capital gains taxes on stablecoin transactions under $200, specifically for regulated, dollar-pegged stablecoins, while not extending this relief to other cryptocurrencies or trading activities.
Taxation of Staking and Mining Rewards: The proposal suggests allowing taxpayers to defer taxes on staking rewards for up to five years, contrasting with current IRS guidance that taxes these rewards as income upon receipt.
Mark-to-Market Accounting: The draft also introduces mark-to-market accounting, enabling traders to report unrealized gains and losses annually, which can help offset other income like wages.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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