Daines Introduces Groundbreaking Crypto Legislation to Protect American Taxpayers
“ADAPT Act” Updates Tax Code, Closes Loopholes, Protects American Innovation WASHINGTON, D.C. – U.S. Senator Steve Daines today introduced the “Aligning Digital Assets with Principles of Taxation (ADAPT) Act,” comprehensive legislation to modernize the federal tax treatment of digital assets and establish clearer, more administrable rules for taxpayers, businesses and the Internal Revenue Service. The bill provides tailored rules where blockchain technology presents genuinely different tax issues, applies familiar tax principles where digital assets function like traditional financial assets, and puts safeguards in place to protect the tax base. By providing taxpayers with tax certainty and clear rules of the road, the bill