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Analysis: US Stablecoins Still Treated as Property for Tax Purposes, "GENIUS Act" Does Not Change Taxation Rules
By: theblockbeats.news|2025/07/24 17:52:25
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BlockBeats News, July 24th, according to Forbes, although the United States recently passed the GENIUS Act, the Internal Revenue Service still considers digital assets as property, keeping key tax rules unchanged for traders and investors.
The GENIUS Act imposes strict reserve, auditing, and disclosure requirements on U.S. stablecoin issuers, including 1:1 asset backing and monthly financial audits; however, the act did not reclassify stablecoins for tax purposes.
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