By Isaac • October 1, 2026 11:19 am •
A new Senate tax proposal would draw a bright line between spending dollar-backed stablecoins and spending Bitcoin.
Under the ADAPT Act released by Sen. Steve Daines on September 30, a purchase made with a qualifying U.S. dollar stablecoin could avoid gain-or-loss recognition beginning in 2027. The same purchase made with Bitcoin would still require the buyer to calculate and report a capital gain or loss.
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That distinction goes directly at one of crypto’s most stubborn payment problems. Under current IRS guidance, using a digital asset to buy goods or services is a disposition.
The taxpayer must compare the asset’s fair-market value at the time of payment with its cost basis. A higher value creates a reportable
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