A set of seven crypto tax bills is currently making the rounds ahead of a hearing by the U.S. House Ways and Means Committee next week. Each legislative draft focuses on a specific aspect of how digital assets are taxed. The proposals include relaxing tax requirements for small transactions, as well as addressing tax treatment for mining and staking gains.
The committee, which oversees tax policy, is set to discuss these ideas on June 9. The legislative text indicates that the panel is aiming at several areas with targeted bills. Specific proposals include eliminating taxes on certain small or “de minimis” transactions, stablecoin activity, and network fees. Others address taxation of assets acquired through mining, merging digital assets with existing securities tax treatment, applying wash sale rules to crypto, and removing an appraisal requirement for donations of digital assets to charity.
Mining and staking tax burden
Reducing the tax burden on mining and staking is a major goal of the industry’s tax strategy. The aim is to eliminate double taxation, where assets are taxed both when acquired and when sold. One of the draft bills specifically addresses this issue.
Cody Carbone, CEO of the Digital Chamber, welcomed the hearing in a statement. He called it a chance “to refine these proposals and keep the bipartisan tax effort moving forward.” His organization says it will work with the committee to strengthen the drafts and provide the tax clarity and fairness that digital assets deserve.
Bipartisan efforts and timing
While the Digital Asset Market Clarity Act has been the top U.S. policy focus for the crypto industry, lobbyists have often said crypto tax policy was next in line. Previous efforts to clarify what should constitute a taxable gain in digital assets have included work by Senator Cynthia Lummis, a Wyoming Republican who leads a digital assets subcommittee in the Senate Banking Committee.
Lummis has tried several times to advance these ideas but failed to get traction. That includes an unsuccessful attempt last year to attach them to the Republican’s One Big Beautiful Bill spending package.
The arrival of bipartisan crypto tax efforts in the House comes fairly late in the congressional session. But there are a number of must-pass bills this year that could still have these items attached to them.
