US House tax committee advances crypto tax overhaul in 38–5 vote
The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in a 38-5 bipartisan vote. The bill would change federal tax rules for digital assets, including stablecoins, mining and staking, crypto lending, and transaction fees. It would give special tax treatment to qualifying dollar-pegged stablecoins and some lending agreements, apply wash-sale rules to widely traded digital assets, and set new rules for mining and staking income. It also creates a de minimis exemption so no gain or loss is recognized when qualifying crypto is used to pay network or transaction fees of $10 or less. The bill now moves to the full House. The vote came after the Senate failed to advance the broader CLARITY Act, which would have defined federal crypto market oversight. Despite that setback, SEC Chair Paul Atkins and CFTC Chair Michael Selig said their agencies will continue pursuing crypto regulation under existing authority.
