# 119-s-5616: ADAPT Act 119-s-5616, ADAPT Act, is a 119th Congress bill sponsored by Sen. Daines, Steve [R-MT] (R-MT); status introduced; PRIA reads it as touching household money (as of 2026-10-16). - Canonical: https://policyrisk.com/legislation/119-s-5616 - As of: 2026-10-16 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-s-5616 - Congress: 119 - Title: ADAPT Act - Status: introduced - Introduced: 2026-09-30 - Sponsor: Sen. Daines, Steve [R-MT] (R-MT) - Cosponsors: 3 - Policy area: Taxation - Touches household money: yes - Last recorded action: 2026-10-16 ## Summary **Creates a comprehensive tax framework for digital assets.** The bill would set rules for stablecoin payments, an optional mark-to-market regime for dealers and traders, and new sourcing and wash-sale rules for mined and traded tokens. ## Cosponsors (3) - Sen. Lummis, Cynthia M. [R-WY] (R-WY), 2026-09-30T00:00:00.000Z - Sen. Moreno, Bernie [R-OH] (R-OH), 2026-09-30T00:00:00.000Z - Sen. Scott, Tim [R-SC] (R-SC), 2026-09-30T00:00:00.000Z ## Provisions PRIA read - Easier tax treatment for crypto donations: benefit, high. If enacted, widely traded digital assets would be added to the types of donations that can avoid a written appraisal under the charitable-contribution exception. Donors of qualifying digital assets would not need an appraisal for that specific exception, subject to limits the Secretary may set to p… - Optional mark-to-market for crypto dealers: benefit, medium. If enacted, dealers and people who trade covered digital assets as a business would be able to elect mark-to-market accounting under section 475. Covered assets would include traded digital assets, qualified U.S. dollar stablecoins, and certain related contracts and hedges. The election would apply… - Clear rules for crypto investment trusts: benefit, medium. If enacted, the bill would create rules that let certain exchange-listed digital asset investment trusts keep qualifying status while staking or managing redemptions, if they meet custody and staking conditions. A qualifying trust would generally need to be exchange-traded, hold a single proof-of-s… - No tax on small crypto fees: benefit, low. If enacted, you would not recognize gain or loss when disposing of digital assets worth $10 or less to pay transaction costs for the same economic transaction. Covered costs include network gas, priority fees, tips, commissions, transfer taxes, and burned fees. The rule would not apply to dealers,… - No tax when spending certain stablecoins: benefit, low. If enacted, you would not recognize gain or loss when you use a qualified U.S. dollar stablecoin to buy goods or services. The stablecoin must be on the Secretary of the Treasury's most recent list and you must have bought it at a price within 3% of $1.00. The rule would not apply to dealers, broke… - Easier tax rules for foreign trading: benefit, low. If enacted, trading in traded digital assets generally would not be treated as a U.S. trade or business when done through a resident broker, commission agent, custodian, or independent agent, or when done for the trader's own account. Dealers in covered digital assets would be excluded from this ru… - Tighter loss rules for crypto investors: cost, medium. If enacted, wash-sale rules would extend to traded digital assets, though qualified U.S. dollar stablecoins would be excluded from the specified-asset list. Economically equivalent tokenized and certain bridged assets would count as substantially identical for wash-sale purposes. The bill would als… - New rules for digital asset loans and debt: mixed, low. If enacted, rules for transfers and payments-with-respect-to-loans would explicitly cover traded digital assets as applicable assets. The Secretary could treat protocol distributions, staking rewards, and staking-related fees as amounts that accrue during an agreement period. Qualified U.S. dollar… - New tax rules for miners, stakers, and DAOs: mixed, low. If enacted, income from digital-asset validation would generally be sourced to the United States when earned by U.S. persons and sourced outside the United States when earned by non-U.S. persons. Mining-pool receipts for mining would count as validation income, but payments for hosting or equipment… ## Related bills - 119-s-292: Educational Choice for Children Act of 2025 - 119-s-3752: SAVE America Act - 119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026 - 119-s-401: Fair Access to Banking Act - 119-s-587: Death Tax Repeal Act of 2025 - 119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2025 ## Sources - [119-s-5616 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5616) ## Related - [119-s-292: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-s-292) - [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752) - [119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026](https://policyrisk.com/legislation/119-s-5025) - [119-s-401: Fair Access to Banking Act](https://policyrisk.com/legislation/119-s-401) - [119-s-587: Death Tax Repeal Act of 2025](https://policyrisk.com/legislation/119-s-587) - [119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of…](https://policyrisk.com/legislation/119-s-186) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-s-5616 (as of 2026-10-16).