U.S. House plan seeks tax-free stablecoin payments up to $200; July 2025 $300 push

U.S. Reps. Max Miller (Ohio) and Steven Horsford (Nevada) proposed a de minimis tax exemption for stablecoin payments of $200 or less. In July 2025, Sen. Cynthia Lummis advanced a similar $300 threshold that failed to pass. Banks oppose 3%-4% stablecoin yields, while industry leaders, including Tyler Winklevoss, are pushing back.