The Blockchain Association is pushing Congress to finalize digital asset tax legislation before time runs out. On Thursday, the group sent a letter to key congressional leaders, including House Speaker Mike Johnson and Senate Majority Leader John Thune, outlining 10 principles for any final bill. The letter emphasizes that current tax rules are outdated for the 67 million Americans who hold digital assets.
Among the key principles, the association advocates for a de minimis exemption to spare small transactions from tax calculations, no tax on moving assets between personal wallets, and extending wash sale rules to digital assets. The group also wants Americans to hold crypto in retirement accounts and supports research and development credits for crypto builders.
The Blockchain Association first released its Digital Asset Tax Principles in February 2026. While the House Ways and Means Committee approved the Digital Asset Tax Certainty Act in September, and the Senate introduced the ADAPT Act, progress has stalled due to Congress's recess ahead of the midterm elections.
For crypto holders, the proposed changes could simplify tax tracking for everyday transactions. For investors, the wash sale principle would likely close off certain loss-harvesting tactics. The R&D credit and mining and staking provisions highlight the needs of crypto builders, who may reconsider operating in the US if these reliefs are excluded.