US Lawmakers Advance Sweeping Crypto Tax Overhaul with H.R. 10357

A bipartisan House committee has advanced a comprehensive overhaul of US crypto tax rules. The Digital Asset Tax Certainty Act, H.R. 10357, was approved by the House Ways and Means Committee with a 38-5 vote on Wednesday.

The bill aims to modify existing Internal Revenue Code concepts to better apply to blockchain activity. One key provision creates special treatment for qualifying network and transaction fees of $10 or less, addressing cases where the compliance burden can be disproportionate to the economic amount involved.

Dollar stablecoins also receive dedicated tax rules under the legislation, which introduces specific framework for calculating basis and gain/loss when trading these assets. The bill extends wash-sale restrictions to covered digital assets, narrowing the difference between traditional securities and crypto.