House Republicans have introduced seven crypto tax bills ahead of a Ways and Means Committee hearing on June 9. The proposals aim to provide long-sought clarity by exempting staking and mining rewards from income tax, creating a $10 de minimis exemption for gas fees, and applying wash sale rules to digital assets. While a significant step, the bills stop short of a broader exemption for everyday crypto purchases, a key industry goal.
Seven crypto tax discussion drafts
- ▪House Republicans have unveiled seven new crypto tax bills to be discussed at a House Ways and Means Committee hearing
- ▪The proposed bills do not include a broader de minimis exemption for everyday purchases made with cryptocurrencies
- ▪The 'Digital Assets Voluntary Disclosure Program Act' would establish a two-year amnesty period for self-reporting past unpaid crypto taxes
- ▪The bills represent the first time congressional leadership in either the House or Senate has advanced tax-focused crypto legislation
- ▪The House Ways and Means Committee hearing on digital asset taxation is scheduled for Tuesday, June 9, 2026
Mining staking tax clarity
- ▪Under current rules, rewards from crypto staking are considered taxable income at the moment they are generated
- ▪The 'Tax Clarity for Mining and Staking Act' would exempt crypto from taxable income when generated through mining or staking
Stablecoin transaction reporting rules
- ▪The proposed $10 de minimis exemption for gas fees would be capped at 5,000 transactions per taxpayer annually
- ▪The 'Less Tax Paperwork for Digital Asset Owners Act' proposes a $10 de minimis tax exemption for crypto network transaction fees
Wash sale trading provisions
- ▪The PAR Act aims to provide greater certainty for crypto traders by aligning tax rules with digital asset markets
- ▪The 'Providing Analogous Rules for Digital Assets (PAR) Act' would apply wash sale rules, which currently cover stocks, to cryptocurrencies
Congressional crypto tax reform strategy
- ▪The Digital Chamber, a crypto trade group, said the bills were crafted following 'months of industry engagement.'
- ▪The proposals are divided into seven separate bills to allow lawmakers to evaluate and advance individual tax reforms independently
Story comments
Loading comments…