Tax and Payment: US Crypto Tax Proposal Advances Amid Remittix's PayFi Push

The US House Ways and Means Committee has approved the Digital Asset Tax Certainty Act, which includes provisions that would extend wash-sale and anti-abuse rules to digital assets. The committee's approval advances the bill, but it does not make its proposals current law.

Remittix is also making waves in the crypto space with its BINANCE500 extra-token promotion alongside PayFi invitations sent to the first 1,000 users. This offer can attract attention to RTX during its presale, but the project's longer-term case rests on whether crypto-to-bank payments become useful beyond a limited promotion.

The tax proposal addresses various aspects of digital-asset activity, including wash-sale and constructive-sale rules, small transactions, mining and staking, reporting, and accounting treatment for eligible dealers and traders. The committee approved the measure by a 38-5 vote, but further legislative steps are required before its provisions can take effect.

Remittix is building PayFi for customers who hold supported crypto and want to transfer it into a compatible bank account. The service addresses a customer payment task while lawmakers separately debate the tax treatment of digital-asset activity. The project has raised more than $32 million from over 40,000 participants toward its $36 million hard cap.