U.S. House's tax committee advances crypto tax bill in wake of Clarity Act loss

The House Ways and Means Committee on Wednesday advanced the Digital Asset Tax Certainty Act by a 38-5 vote, moving the bipartisan crypto tax proposal to the full House. Lawmakers framed the bill as an effort to clarify how digital assets should be taxed, particularly for everyday, low-value transactions that currently create complex accounting burdens for users. Central to the bill is a $10 de minimis threshold intended to exempt small crypto payments from triggering taxable events, a change proponents say is necessary to make routine use of digital assets practical. The legislation also addresses tax recognition rules, the treatment of transfers, wash sale rules, tax treatment for mining and staking, and broker reporting requirements, while generally seeking parity between digital assets and other financial products. Committee members said advancing the bill establishes legislative momentum late in the session, though the narrow calendar — roughly five weeks of work between the November elections and January — limits the time available for further action. Supporters argued that even if immediate passage is unlikely, moving the bill now could smooth the path for future efforts to set consistent tax rules for crypto. The measure was not without critics. Some Democrats on the panel questioned why the committee was prioritizing relief for the crypto industry, with Representative Lloyd Doggett saying the committee appeared to be responding to well-funded industry interests. Observers also noted the vote followed the Senate’s failure to pass the Digital Asset Market Clarity Act, the industry’s primary market-structure objective, and that the sector’s political ties — including to President Donald Trump — have sharpened scrutiny of its legislative proposals.