Crypto's Long-Sought 'De Minimis' Tax Break Gets a House Markup This Week

House Ways and Means Committee members will convene on Sept. 16 to consider the Digital Asset Tax Certainty Act, a 114-page measure introduced by Chairman Jason Smith (R-Mo.) that seeks to update federal tax rules for a wide range of digital-asset activity. The bill would be discussed and potentially amended during the committee markup before members decide whether to send it to the full House. A headline provision creates a de minimis exemption for small blockchain or network fees: qualifying transaction fees of $10 or less would be excluded from capital-gains calculations. That change aims to address situations where paying a network fee in crypto triggers a taxable event under current IRS treatment, which classifies digital assets as property. The source indicates proposed exemptions and simplified accounting would begin in 2028. The bill also sets specific tax treatments for common crypto activities. It would use the redemption value of qualifying dollar-pegged stablecoins as their tax basis when purchased near parity, treat mining and staking rewards as ordinary income, and permit certain investment trusts to stake assets without risking their favorable tax status. An industry-backed earlier proposal that would have deferred income recognition for some newly created mining and staking rewards does not appear in H.R. 10357. Additional measures in the proposal include extending wash-sale rules to digital assets, carving out qualifying crypto loans from being treated as sales, and establishing a Treasury program that would let eligible taxpayers amend prior returns and pay outstanding taxes, interest and penalties. The bill must still clear the committee, be approved by the full House and Senate, and be signed by the president before becoming law.