House Bill Seeks Balance Between Simplifying Crypto Taxes and Revenue Generation

Lawmakers in the US House of Representatives are set to consider a bill that aims to make cryptocurrency easier to use while still collecting an estimated $500 million more in taxes from fiscal 2027 through 2036. The Digital Asset Tax Certainty Act, or H.R. 10357, would ease tax burdens on stablecoin payments and small transaction fees.

The legislation, set for consideration by the House Ways and Means Committee on September 16, would remove some of the 'tax friction' that makes routine crypto activity cumbersome while extending securities-style rules to traders. This trade-off reflects the bill's central goal: generating revenue while providing clarity for taxpayers.

Under the proposal, qualifying US dollar stablecoins would receive special treatment, preventing minor movements around their $1 peg from creating gains or losses that taxpayers must calculate each time they use the tokens. Traders, brokers, and dealers would be excluded, along with certain users completing more than 5,000 counted transactions.

The measure also disregards gains or losses when digital assets are used to pay network or transaction fees of no more than $10, covering costs such as blockchain gas fees and certain trading or liquidity charges. This provision carries one of the package's highest costs, estimated at reducing federal receipts by $2.365 billion through 2036.