The Blockchain Association has proposed a significant tax reform for stablecoins, urging Congress to classify them as cash equivalents for taxation purposes. This recommendation aims to simplify tax reporting by eliminating the need for capital gains calculations on minor transactions, aligning stablecoin treatment with traditional currency. The proposal arrives amid increasing global competition for crypto innovation and seeks to modernize U.S. digital asset regulation. The association's framework also suggests a de minimis exemption for small-value cryptocurrency transactions, reducing compliance burdens where costs often exceed tax liabilities. Additionally, it recommends applying wash sale rules to cryptocurrencies and clarifying the taxation of mining and staking rewards. These measures are part of a broader effort to streamline crypto tax compliance and align U.S. policy with international standards.