US lawmakers publish crypto tax proposal without Bitcoin tax exemption

What: US lawmakers have published a crypto tax proposal that does not include an exemption for Bitcoin.
Why: The proposal aims to simplify tax compliance for dollar-pegged stablecoins, but leaves Bitcoin's tax status unchanged.
Signal: The bill's focus on stablecoins suggests a growing recognition of their role in the crypto market.
Target: The proposal targets tax year **2024**, with a focus on stablecoins that maintain a tight peg to the US dollar.
Risk: The lack of a Bitcoin tax exemption may increase uncertainty for investors and could lead to higher tax liabilities.