Crypto Tax Bill Passes Committee as Reserve Legislation Advances

Two separate pieces of crypto legislation advanced in Congress on September 16. The House Ways and Means Committee passed the Digital Asset Tax Certainty Act (H.R. 10357) by a 38-5 vote, sending it to the full House.

The bill extends existing stock-market wash-sale rules to digital assets for the first time, closing a loophole that has let crypto holders sell at a loss and claim the tax deduction without waiting the required period to buy back into the same position. It also includes an exemption from capital gains reporting on network fees under $10.

The House Financial Services Committee held its markup of H.R. 8957, the American Reserve Modernization Act (ARMA), but did not yet publish the official record of their vote outcome. As such, it should not be read as having 'passed' until that's confirmed.