U.S. bipartisan lawmakers are working together to push for cryptocurrency tax reform. The framework draft jointly authored by Max Miller and Steven Horsford sets an interesting boundary for stablecoin transactions — transactions involving USD-pegged stablecoins of no more than $200 per single transaction will be exempt from capital gains tax.

What does this mean? In simple terms, it lowers the barrier for retail users' daily transactions. For staking and mining rewards, the plan also offers a relatively friendly treatment — potentially up to 5 units of preferential policy support (specific details to be fully disclosed).

From a market perspective, these policy experiments reflect a gradual rationalization of the U.S. legislative attitude toward digital assets. The tax exemption limits, special treatment for stablecoins, and considerations for interest-earning holding modes all indicate that policymakers are trying to balance regulation and innovation. Of course, this is still in the draft framework stage, and whether it will be implemented later and what adjustments will be made in the final version remain to be seen.