Bill · S. 5616· Senate(119-S-5616)
ADAPT Act
- Introduced
- 9/30/2026
- Last activity
- 9/30/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Steve Daines
- Cosponsors
- - 3 - 0
- Introduced
- In Committee
What this bill would do
This bill amends the Internal Revenue Code of 1986 to reform how digital assets are taxed. It introduces tax rules for stablecoins, digital asset validation activities like mining and staking, and trading practices. The legislation sets guidelines for trusts and publicly traded partnerships holding digital assets. It also establishes exemptions for certain small network fees and outlines rules for charitable contributions of widely traded digital assets. Finally, the bill directs the Treasury to issue guidance regarding foreign entities connected to decentralized autonomous organizations.
Yes· 3 of 11
Does this cut taxes for small businesses?+6
The bill provides tax relief for small businesses and individuals by exempting small network transaction fees and stablecoin purchases from capital gains recognition.
Does this make it easier to run a small business?+5
The legislation reduces administrative and tax compliance burdens for businesses engaging with digital assets and utilizing stablecoins.
Would people in their twenties and thirties be better off under this?+4
Young adults, who participate disproportionately in digital asset markets, benefit from simplified tax rules for stablecoins and small network fees.
The opposite
Does this make the government pay for what it commits to?-2
Creating targeted tax exemptions for stablecoins and digital asset transactions may lead to a minor reduction in federal revenue.
Who it would affect, and how
Potential Positive Impacts for People
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Section 2: This section ensures that no gain or loss is recognized on the sale, exchange, or disposition of covered payment stablecoins to purchase products or services. This could benefit everyday individuals by removing the tax burden and reporting hassle of tracking minor price fluctuations when using stablecoins for regular purchases.
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Section 10: This section adds widely traded digital assets to the exception from appraisal requirements for charitable contributions. This makes it easier and less expensive for individuals to donate certain digital assets to charity without paying for an expensive appraisal.
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Section 11: This section establishes that no gain or loss is recognized on the disposition of a digital asset used to pay network fees if the aggregate fair market value does not exceed $10. This benefits people using digital asset networks by preventing them from having to calculate and report tiny capital gains or losses every time they pay a small transaction fee.
Potential Negative Impacts for People
- Section 7: This section applies wash sale rules to specified assets, which now include certain traded digital assets. This could negatively impact everyday traders by preventing them from claiming tax losses if they buy a substantially identical digital asset within 30 days before or after selling at a loss, adding complexity to their tax filings.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+4Good For Young Adults+4Good For Low Income Households+3Good For Middle Aged+3Good For Middle Class Households+3
- Economy And Finance
- Reduces Small Business Taxes+6Improves Small Business Support+5Improves Economic Growth+4Improves Fiscal Responsibility-2
- Governance And Ideology
- Improves Government Transparency+4Increases Federal Power+3
- Education And Technology
- Increases Big Tech Regulation+3
- 9/30/2026
- Read twice and referred to the Committee on Finance.
- 3 Cosponsors added.
- Introduced in Senate
Cynthia LummisRepublican · Wyoming
Bernie MorenoRepublican · Ohio
Tim ScottRepublican · South Carolina