Daines Develops Framework for Digital-Asset Tax Rules

Sen. Steve Daines is working on a framework for digital-asset tax rules that would apply traditional investment principles to cryptocurrencies.

The proposal aims to simplify and clarify tax laws for blockchain activities such as staking, stablecoin payments, and network fees.

Daines said in July that the current tax code forces taxpayers to apply outdated rules, which he believes would be improved by his framework.

The Digital Asset Tax Certainty Act, approved by the House Ways and Means Committee on Sept. 16, addresses reporting requirements and the tax treatment of mining and staking.