U.S. House Advances Digital Asset Tax Certainty Act Amid Industry Concerns

The U.S. House Ways and Means Committee has advanced a comprehensive crypto tax bill called the Digital Asset Tax Certainty Act (H.R. 10357), aiming to clarify tax treatment for digital assets.

The legislation addresses various aspects of cryptocurrency taxation, including stablecoin payments, transaction fees, digital asset lending, mining, staking, and wash-sale rules.

Crypto Council for Innovation (CCI) has expressed support for the bill's provision removing certain gain-and-loss calculations for businesses accepting qualified U.S. dollar payment stablecoins, recognizing them as payment mechanisms rather than investment assets.