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US House releases major crypto tax bill
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US House releases major crypto tax bill

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  • The US House Ways and Means Committee has released a 114-page crypto tax bill.
  • The bill would change rules for fees, trading, staking, mining and digital-asset transfers.
  • Lawmakers will debate and vote on whether to advance it on September 16.

The US House Ways and Means Committee has released a 114-page bill to change how digital assets are taxed.

The Digital Asset Tax Certainty Act would address network fees, stablecoins, trading, lending, mining, staking and broker reporting.

The bill would remove gains and losses on digital assets used to pay qualifying network or transaction fees of up to US$10.

The exemption would not apply to people who made more than 5,000 digital-asset transfers during the previous tax year.

The bill would also introduce new accounting rules for widely traded digital assets and apply wash-sale rules to certain trades.

Separate provisions would clarify tax treatment for mining and staking income, while creating new broker requirements and a voluntary disclosure programme.

The House Ways and Means Committee will hold its markup at 10am ET on September 16, but the bill still faces further congressional action before it could become law.


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