House Committee Advances Crypto Tax Bill with Bipartisan Support

The U.S. House Ways and Means Committee has approved a crypto tax bill in a 38-5 vote, moving it closer to possible House consideration.

The Digital Asset Tax Certainty Act aims to ease tax rules on small crypto transfers and treat digital assets more like other financial products.

The bill covers reporting, mining, staking, lending, stablecoins, and anti-abuse rules, including exemptions for certain fees and the introduction of wash sale rules for trades of digital assets.

The Joint Committee on Taxation estimates that the package will generate net revenues of $500 million for the federal government during fiscal years 2027-2036.