A bipartisan group of U.S. lawmakers has introduced the PARITY Act, aiming to direct the Treasury Department to study a potential de minimis tax exemption for digital assets. The bill, introduced in the House, seeks to address the challenges of applying existing tax codes to the rapidly evolving crypto landscape. It mandates the Treasury to provide interim guidance within 180 days on the feasibility of such an exemption, focusing on transactions under $200. The PARITY Act does not establish a tax exemption but requires an evaluation of the compliance burden associated with small crypto transactions. It also retains provisions treating certain digital dollars like cash for tax purposes and considers extending wash sale rules to crypto assets. The proposal reflects a cautious approach to modernizing tax policy in line with digital asset innovations, with lawmakers emphasizing the need for data-driven policy design to inform future legislative actions.