House Committee Advances Digital Asset Tax Certainty Act with 38-5 Vote

The House Ways and Means Committee has advanced the Digital Asset Tax Certainty Act by a vote of 38-5, moving it one step closer to consideration by the full House.

The bill's proposed framework covers various aspects of digital assets, including transaction reporting, trading-related tax treatment, mining, staking, and charitable donations.

According to KPMG's summary, the proposal would align many digital-asset tax rules with those for stocks and securities while adding de minimis exemptions, applying wash-sale and constructive-sale rules to digital assets, and expanding broker reporting requirements.

The measure now moves toward consideration by the full House, leaving the tax rules unresolved at this stage.