Crypto tax bills a work-in-progress as U.S. House lawmakers pose concerns
A House Ways and Means Committee hearing showed the proposed crypto tax bills still face major bipartisan resistance. The package aims to simplify tax reporting for digital assets, including exempting very small transactions and fixing double taxation on mining and staking rewards. Democrats pressed concerns that the mining/staking deferral could become an abuse-prone tax break and violate the principle that income is taxed when received. Committee leaders say the goal is bipartisan progress, but lawmakers signaled skepticism and major revisions may be needed before markup. Timing is uncertain because Congress is late in the session and still focused on the broader crypto market-structure bill. Supporters argue the changes would reduce burdens on taxpayers, brokers, and the IRS, while giving clearer rules for everyday crypto use and investment.
