PANews reported on May 30th, citing Forbes, that a bipartisan group of lawmakers, including Democratic Representative Steven Horsford (NV) and Republican Representative Max Miller (OH), formally introduced the "Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Benefits Act" (PARITY Act). The Act aims to modernize digital asset tax rules, strengthen investor protection, provide market certainty, prevent abuse, and help ordinary people participate in crypto, build wealth, and reduce income inequality. Representative Jason Smith, Chairman of the House Ways and Means Committee, stated that any crypto tax bill must have bipartisan support to move forward.

The US Congress released a draft tax policy discussion in March and held a bipartisan roundtable in May to discuss the tax framework for crypto assets. Horsford and Miller are leading the negotiations, with the goal of passing the bill by the end of 2026. This bill runs parallel to the Senate's CLARITY Act. The article argues that if both crypto bills (regulation and taxation) are passed simultaneously in 2026, along with the rule-making process of the GENIUS Act, it will bring significant benefits to Web3 and DeFi, truly bringing crypto into the mainstream.