Crypto Tax Bill Passes Key Committee Vote with Estimated $500 Million Revenue Gain

A bill to overhaul crypto taxes is moving through Congress, aiming to make cryptocurrency easier to use while still collecting $500 million more in taxes.

The House Ways and Means Committee is scheduled to consider H.R. 10357, the Digital Asset Tax Certainty Act, on Sept. 16. The legislation would ease taxes on stablecoin payments and small fees for crypto users.

Crypto tax lawyer Andrew Gordon said the bill is 'a massive step forward for crypto investors who simply want rules on tax.' He noted that clear rules are necessary, as 'we all pay taxes.'