Less Tax Paperwork for Digital Asset Owners Act

This bill is exceptionally supportive of the crypto industry as it targets major operational frictions in crypto taxation. By exempting de minimis network fees under $10, the bill removes the administrative nightmare of tracking capital gains on blockchain gas fees. Furthermore, treating qualified U.S. dollar stablecoins at their redemption value essentially removes capital gains tracking from stablecoin transactions, allowing them to function efficiently as digital cash. The optional simplified accounting for widely traded digital assets also provides a practical alternative to complex cost-basis tracking for active traders. Collectively, these provisions dramatically lower compliance costs, reduce regulatory friction, and facilitate the mainstream integration of digital assets and stablecoins into the everyday economy.