US Legislators Suggest Tax Relief for Minor Cryptocurrency Transactions
Digital Asset PARITY Act Introduction: Representatives Max Miller and Steven Horsford introduced the Digital Asset PARITY Act, proposing tax exemptions for stablecoin payments under $200 and deferred taxation on staking rewards to clarify crypto tax policies.
Impact on Crypto Assets: The proposed legislation could affect regulated stablecoins and related assets like Ethereum, potentially altering staking reward investments and small crypto payment practices, while industry responses remain uncertain due to a lack of regulatory comments.
Concerns from Banking Associations: The American Bankers Association and state bankers associations expressed concerns about the implications for bank lending, emphasizing that the GENIUS Act prohibits interest on stablecoin yields, framing stablecoins as payment instruments rather than investment products.
Revising Crypto Taxation Methods: The proposal aims to redefine the taxation of staking and mining rewards, aligning crypto taxation more closely with fiat currency standards and traditional de minimis exemptions, which may influence future crypto regulation.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH 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, ETH 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 $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 734.244 | 1241.022 | 1701.084 | 2207.862 | 2667.924 | 3174.702 | 3634.764 |
| Fibonacci | 1241.022 | 1610.355 | 1838.529 | 2207.862 | 2577.195 | 2805.369 | 3174.702 |
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