A quick review of the Ways and Means tax bills: State of Crypto
The House Ways and Means Committee released seven draft crypto tax bills ahead of a June 9 hearing, marking a significant step toward formal crypto tax legislation. The drafts cover staking, mining, de minimis transaction relief, stablecoin payments, and other tax issues. While passage in 2026 is uncertain because Congress has other priorities, the hearing suggests these provisions could eventually become law, either in a tax package or a broader bill. Industry groups called the move an important first step and said it reflects growing procedural focus on crypto taxation. Separately, the FASB Investor Advisory Committee discussed whether stablecoins should be treated as cash equivalents, but reached no consensus; it wants a high threshold and may consider disclosures on reserves, issuer identity, custody, and currency risk.
