In this solo educational video, Kamilah Stevenson explains three concurrent pieces of U.S. federal legislation that together create the first comprehensive legal and tax framework for digital assets. She first outlines the Genius Act, a law signed in July 2025 that regulates stablecoins by requiring 1:1 dollar backing, monthly reporting, audits, and AML compliance, thereby giving institutional users a clear legal basis for using stablecoins such as USDT, USDC, and Ripple’s RLUSD. Next, she discusses the pending Clarity Act, which would codify the SEC’s determination that XRP and similar tokens are digital commodities, making that classification permanent and protecting them from future regulatory reversals. She describes the bill’s complex legislative path through two Senate committees and its expected timeline. Finally, she details the draft Parity Act, which would overhaul the tax treatment of crypto: (1) exempting regulated stablecoin transactions under $200 from capital‑gains reporting, (2) allowing deferral of staking and mining rewards for up to five years or until sale, and (3) extending wash‑sale rules to crypto, closing a loophole. Stevenson connects these reforms to practical strategies, recommending Roth IRAs for long‑term tax‑free growth and promoting iTrust Capital as a custodial brokerage that supports crypto IRAs and the newly regulated RLUSD. She also markets her one‑on‑one coaching and community services for personalized wealth‑building plans. Throughout, she emphasizes that the three bills address distinct problems—stablecoin infrastructure, asset classification, and tax friction—and together form an unprecedented, ground‑up regulatory architecture for digital assets in the United States.
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There's a bill that I want to talk about that directly affects how much of your crypto gains you get to keep, and I want to talk about that today. Now, everybody understands the Clarity Act is being negotiated, but there's actually 3 different bills that are being considered that pertains to crypto, and I want to talk about what they are, what they actually do, and why together they represent something that has never existed before in this country, and it's a complete legal framework for digital assets from the ground up. Now, I'm Kamilah Stevenson, and around here we talk wealth. I want you to go ahead and like the video and subscribe if you have not already. And I want you to know that everything I say is not financial advice to you. This is only for educational purposes only. Now, I want to start off by talking about the Genius Act. It is already a law, and I think most people missed it. So, as I stated, the first major federal crypto legislation in United States history is is already signed into law. Not coming, not pending, but done. And this was signed by President Trump in July of 2025. And most people don't even have an idea that it happened. It is called the Genius Act. And before you think it does not apply to you, just stay with me because this directly connects to assets that you're probably already holding or watching. So the Genius Act governs stablecoins. Now let me explain what a stablecoin is for anyone who needs the plain language version, because this word does get thrown out a lot. So a stablecoin is a digital asset pegged to the value of a regular currency. In most cases, the United States dollar is what it's pegged to. One token equals $1. It doesn't go up or down. It really just holds its value, and its entire purpose is to move dollars across a blockchain without the volatility that comes with assets like maybe XRP or Bitcoin or any other asset currently, right? So you may have heard of USDT, USDC, and if you follow Ripple, you've heard of RLUSD, Ripple's own dollar stablecoin. All of these are stablecoins, and all of them are now operating under the first federal law ever written specifically for this technology. So what does the Genius Act really require? Well, every stablecoin issuer operating in the United States must maintain full one-to-one backing, meaning for every digital dollar they issue, there must be a real dollar sitting somewhere to back it. There's no fractional reserves, no creating accounting, just $1 in and $1 out. They must submit monthly financial reports, and they must pass regular audits, and they also must comply with the same anti-money laundering standards that traditional banks follow. Now, why does this matter for you specifically? Well, because before this law existed, stablecoins operated in a gray area. So institutions that wanted to use them for serious financial infrastructure could not get their legal teams to sign off. The liability in that time was a little too unclear. And so the Genius Act removed that ambiguity. It made stablecoins an officially recognized payment mechanism in the United States with a clear legal framework that institutions can really work within. And then here's the connection that we have to make. RLUSD, Ripple's stablecoin, is now operating inside a legal framework that gives every institution considering it a clear answer to the question their compliance department was asking. Is this legitimate? Is it regulated? Can we use it without legal exposure? And the answer is now yes, in writing. Signed by the president. So when you hear about RLUSD with Ripple and XRP working together as an ecosystem, meaning the on-ramp and the bridge, understand that the on-ramp now has federal legal status. And that's not a small detail. That is the foundation the entire system sits on. And most people will scroll right past that. So I wanted to mention it. Now we want to talk about the Clarity Act and what a lot of people get wrong with this. So we're hoping that it gets passed at some point very soon. But here's what a lot of people get wrong about it. They think it is the beginning of XRP's legal protection, and it's actually the lock on the door that already got open. See, the SEC already named XRP as a digital commodity. That was the verdict. But here's what most people don't realize. A regulatory determination can be reversed. New administration, new SEC chair, someone decides to revisit it, and without legislation backing it up, the determination determination is only as permanent as whoever sits in the next seat. Now, I do want to make a comment and say, because XRP has already gone through the court case and beat that case that it's not a security, I don't think it's as exposed to this problem as a lot of the other digital assets. And so the Clarity Act writes things into law. It makes the verdict and it makes it untouchable. And that is what we are waiting for.. And so it's not permission, but it is protection that cannot be undone. Now, here's why it feels like it's taking forever, and most people have never had this explained to them in this way. The bill has to pass through two separate Senate committees before it even gets to a full floor vote. The Banking Committee and the Agriculture Committee both produced their own versions. Both versions had to be reconciled into one unified bill. Then it needs 60 votes on the floor. And that's not stalling, that's just one of the most complex legislative paths a bill can travel, and it's still moving. Now, the biggest sticking point reached a compromise, uh, a little time ago. And so we're hoping that the end of April or May is the resolution and the expected timeline. And just to note, the White House is pushing in that direction, and it hasn't changed, although things are changing every single day. We're watching it play out in real time. Hey, you just never know. What if it doesn't happen? I'm not sure. We'll see. But I do hope it's coming. And if it lands, what you're holding stops being protected by a determination and starts being protected by law. Again, XRP still escapes the scrutiny of this because it's already gone through a legal case with the SEC. Now, there is a third bill that maybe nobody saw coming. Okay, and it is called the Parity Act, and this is the one that's going to hit your wallet directly because everything that we covered— the Genius Act protecting stablecoin infrastructure, the Clarity Act locking in digital assets identity and unlocking what gets built next— all of that is important, but it lives mostly in the institutional and regulatory world. The Parity Act Lives in your wallet and your tax bill and your actual financial life right now. So here is the problem that the Parity Act is solving. Right now in the United States, every single crypto transaction is technically a taxable event. Every single one. If you buy a bag of chips with a stablecoin, that is a taxable event. If you swap one token for another, that is a taxable event. If you receive staking rewards, that's taxable income the moment it hits your wallet. Not when you sell it, not when you convert it to cash, but the moment you receive it. And most people don't realize that this is how the current tax code treats crypto. And the ones who do realize it understand immediately why it creates a massive friction problem for crypto being used as actual money in everyday life. Think about what this means practically. If you use RLUSD to pay for something and the value of that stablecoin moved even slightly since you acquired it, you technically owe capital gains tax on that transaction. On the bag of chips, on a grocery run, on a business payment. The IRS wants a piece of every single movement of value regardless of how small it is. The Parity Act fixes this with 3 specific changes that I want to walk you through very clearly because each one of them do matter. Change number 1, transactions under $200 using regulated stablecoins will not trigger a capital gains tax event. All right, so if you use RLUSD to pay for something under $200, there is no tax calculation required, and there's also no cost basis tracking. So that means no reporting obligation, and it gets treated the way small foreign currency transactions are treated. So if you exchange value and it was small, you just move on. This is enormous for adoption. One of the biggest invisible barriers to crypto being used as actual money in everyday transactions has been this tax friction. Every payment requiring a tax calculation makes crypto impractical for real-world use. This provision removes that barrier entirely for regulated stablecoins. Now, change number 2, staking and mining rewards can be deferred for up to 5 years or until you sell, whichever one comes first. So right now, if you stake an asset and receive rewards, you owe income tax on those rewards immediately at whatever the market value is the moment they hit your wallet. Even if you cannot sell them, even if the market is illiquid, even if those rewards drop in value the next day, you already owe taxes. This has been called phantom income in the crypto community for years. You receive something, you owe tax on it, but you do not have the cash to pay the tax because you never converted anything to dollars. The Parity Act eliminates that by letting you defer the tax recognition until you actually sell, until you really do have the money in your hand. For anyone running a staking operation or participating in yield on digital assets, this changes the math of the activity completely. Change number 3: wash sale rules come to crypto. Now this one is a give and take, so I want to be straight with you about it. Right now, crypto has a loophole that stocks do not have. If you sell crypto at a loss, you can claim that loss as a tax deduction and immediately buy the same asset back. And this is with no waiting period. Stocks cannot do this. There is a 30-day waiting period called the wash sale rule, but crypto has been classified as property, not a security, so that rule never applied. The Parity Act closes that loophole. If you sell crypto at a loss and want to claim that deduction, you now have to wait 30 days before buying the same asset back. Some people are going to hear that and feel very frustrated, but here's how I want you to think about it. The loophole closing is the trade the government needs to make in order to give you staking deferral and the stablecoin exemption. You cannot get the benefits without giving something back. And honestly, aligning crypto with the same rules stocks follow is part of what makes this space legitimate in the eyes of institutional investors. The bill is still a discussion draft moving through the committee, and it's a bipartisan support and the sponsor believes it can advance before August of 2026. We'll see. Now let me bring this all together because this is where the picture gets very, very clear. The Genius Act built the legal foundation for stablecoins. That's done. It's law. It's operational. The Clarity Act is locking in the legal identity of digital commodities and opening the door for everything institutional that gets built next. So that's moving. And maybe there's a May timeline. We'll see. And the Parity Act is fixing the tax code so that holding, using, and earning yield on digital assets work the way it should for regular people. That's moving, and there is bipartisan support. So 3 bills, 3 completely different problems being solved all at once, and none of them are getting the same conversation. So together, what they do is they form something that has never existed in this country And that is a complete legal and tax framework for digital assets from the ground up. And here's what I want you to know. Most people are waiting for one thing to happen before they feel confident. The Clarity Act to pass, the price to move, the legislation to get signed. They have one checkbox that they are watching, but the system being built around what you're holding is not one checkbox. It is 3 separate legislative tracks moving all together. The foundation is already law. The market structure protection is not too far away, hopefully, and the tax framework is coming right behind it. So you're not waiting for something to start, you're watching something finish. And it is just a great time to be alive to watch all that we are witnessing together. And I believe it's going to make for a great opportunity. Now, I do want to share something because the Parity Act is specifically about small stablecoin transactions and staking deferral. For example, this is about if you're buying maybe food with crypto, or if you're receiving rewards, there's going to be delaying on taxes, and that's what it addresses. But it does not touch what happens when these digital assets appreciate significantly and you sell. So those gains are still fully taxable. Every dollar of profit that you make on digital assets like XRP in a regular account the IRS is still coming for you. It is your silent partner on that, whether you accepted them as a partner or not. And so that is where a Roth IRA becomes the most powerful tool that you can have available to you right now. Inside of a Roth IRA, your gains grow completely tax-free, not deferred like the Parity Act's staking provision, but I'm talking free. So when XRP or HBAR or XLM moves and you've been holding them inside of a Roth IRA, you keep everything, and the IRS does not get a percentage of what you've built. So the Clarity Act handles the small stuff, but the Roth IRA, it protects the big move. So those are two completely different conversations, and you need both. I personally hold mine through iTrust Capital. Yes, I do have XRP in there alongside gold and silver backed by physical gold and silver. And I have Quant and XDC and a bunch of other ones, all inside a tax-advantaged structure. And their accounts are also institutional-grade custody. They do have treasury accounts for LLC and trust if you're building at the entity level. And they just got RLUSD, so now you can invest in that as well. And I will be adding that to my portfolio because this is new, and I want to say they are probably the only brokerage account that holds crypto that gives you that option to choose. Now, the link is in the description, and there is a $100 bonus when you fund. So yes, they'll give you $100 when you fund your account, and then you can take that money and invest in more assets. Now, I also want to say that even if you understand this information and you have your conviction all set, uh, that doesn't equate to you having a personal plan plan built around what you know. So there's other questions of what do I actually hold, how much, where does it sit, what's my tax strategy, what do I do if the price drops another 30%, what do I do if it runs, how do I protect it from creditors, how do I strengthen my mindset and my nervous system through all of these. These are not generic questions, they are specific for your life and your situation. And that specificity is exactly what I do on my one-on-one clarity calls and also inside of my community where I am there coaching you every step of the way, giving you a game plan and helping you with your accountability, your mindset. We take it very deep and people are winning every single day in that community. The link for that is in the description. Now drop in the comments, genius, clarity, or parity, which one surprised you the most? Go ahead and like the video, subscribe, and share with someone who may need to understand this information a little deeper And as always, I want you to stay wise, stay wealthy, and I'll see you in the next video.
