US House tax committee advances crypto tax overhaul in 38–5 vote

The House Ways and Means Committee approved the Digital Asset Tax Certainty Act in a 38–5 bipartisan vote, moving the bill to the full House. The legislation would change federal tax treatment for a range of digital-asset activities including stablecoins, staking and crypto lending, and would extend wash-sale rules to widely traded digital assets.

By AI NewsroomPublished about 10 hours agoUpdated about 10 hours ago0 views

US House tax committee advances crypto tax overhaul in 38–5 vote

Why It Matters

The bill would create clearer tax rules for rapidly evolving crypto activities, potentially affecting how investors, miners and service providers report and pay taxes. The committee action comes as Congress stalls on broader crypto market-structure legislation, leaving regulators to signal they will act under existing authority.

Key Facts

Committee: House Ways and Means Committee
Bill: Digital Asset Tax Certainty Act
Committee vote: 38–5
Covered activities: Stablecoins, mining and staking, digital asset lending, transaction fees, and other crypto activity
Stablecoin and lending treatment: Would establish special tax treatment for qualifying dollar-pegged stablecoins and certain crypto lending agreements

The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in a 38–5 vote, sending the tax-focused measure to the full House for consideration. Lawmakers framed the bill as an effort to modernize federal tax rules to reflect how digital assets are used and traded today.

Key provisions would create distinct tax treatment for qualifying dollar-pegged stablecoins and certain crypto lending arrangements, introduce new rules governing income from mining and staking, and extend wash-sale rules to widely traded digital assets. The legislation would also introduce a de minimis exemption for transaction fees, so taxpayers would not recognize gains or losses when digital assets are used to pay qualifying network or transaction fees of $10 or less.

The committee’s action came a day after the Senate failed to invoke cloture on the broader CLARITY Act, a market-structure bill intended to clarify the roles of the SEC and CFTC; that cloture motion failed 49–50. Senator Cynthia Lummis, a lead sponsor of the CLARITY Act, publicly blamed Democrats for repeatedly changing demands as the bill moved through discussions.

Following the Senate stall, regulators signaled they will continue pursuing crypto oversight under existing authority. SEC Chair Paul Atkins said the agency will act decisively within its statutory power to provide investor certainty, and CFTC Chair Michael Selig said the commission is prepared to issue rules for what he called the "new frontier of finance."