US House Panel Prepares to Vote on Crypto Tax Rules That Could Reshape Bitcoin Mining

A pair of digital asset tax bills are set to be voted on by the U.S. House Ways and Means Committee on September 16, marking a significant step towards shaping the nation's cryptocurrency regulations.

The two measures in question are H.R. 9175, the Tax Clarity for Mining and Staking Act, and H.R. 9172, Applying Existing Tax Anti-Abuse Rules to Digital Assets Act.

H.R. 9175 would allow eligible minors and estates to defer income on newly created tokens until they are disposed of, providing miners with a degree of tax relief. The bill also clarifies that new tokens are considered ordinary income when received but allows miners and stakers an election to defer that income until they dispose of the assets.

H.R. 9172 would extend wash-sale and constructive-sale rules to digital assets while excluding qualified U.S. dollar stablecoins, effectively preventing traders from selling crypto at a loss and rebuying it minutes later to book the deduction.