U.S. crypto rulemaking accelerates: PARITY Act tax tweaks, CLARITY yield fight, and Newsom order

On March 28, 2026, a new set of U.S. policy moves highlighted how quickly crypto regulation is evolving, from tax treatment for stablecoins to proposed limits on stablecoin yield products. The Digital Asset PARITY Act draft would exempt certain stablecoin transactions from capital gains tax and add wash-sale rules to crypto, while Coinbase is pressing for changes to CLARITY Act language ahead of expected text in late March or early April 2026. Separately, California Gov. Gavin Newsom issued an order barring state officials and close associates from using non-public information to bet on prediction markets.