Crypto Tax Bill Clears House Committee After Clarity Act Setback

Crypto Tax Bill Clears House Committee After Clarity Act Setback

Summary

The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act, sending a crypto tax overhaul to the full House after a bipartisan markup of H.R. 10357. The bill aims to bring “clarity, parity, and workability” to digital asset taxation. Key changes would exempt gain-or-loss calculations on qualifying network or transaction fees of $10 or less starting in 2028, simplify tax treatment for certain dollar-pegged stablecoins, and treat mining and staking rewards as ordinary income. It would also let some investment trusts stake assets without losing tax status and extend wash-sale rules to digital assets, limiting loss deductions when substantially identical assets are repurchased within 30 days. The bill includes a correction program for past returns and excludes an earlier deferral rule for mining and staking rewards. It still needs House and Senate approval and the president’s signature.