U.S. Lawmakers Set Sights on Crypto Tax Rules During Crypto Week

As U.S. lawmakers prepare for “Crypto Week,” the House Ways and Means Committee is set to address a major concern for digital asset investors—crypto taxation. On July 16, the committee's oversight subcommittee, led by Chairman Jason Smith, will hold a hearing focused on creating a clear tax policy framework for digital assets.

Taxation has remained one of the biggest obstacles to crypto adoption in the U.S., with investors struggling to navigate inconsistent and burdensome tax requirements. Until a comprehensive tax regime is in place, accounting for crypto transactions remains complex and uncertain.

The hearing comes as crypto policy gains momentum in Congress, with regulatory frameworks for stablecoins and broader market oversight also on the table. The House may vote next week on a Senate-approved bill regulating stablecoin issuers—another milestone in shaping U.S. digital asset policy.

Meanwhile, Senator Cynthia Lummis introduced a bill last week aiming to ease the tax burden for crypto users. Her proposal includes a $300 de minimis exemption for small crypto transactions, capped at $5,000 annually, reducing capital gains reporting for minor day-to-day purchases. The bill also seeks to eliminate double taxation on crypto earned through staking, mining, airdrops, and forks—taxing only the gains upon sale rather than the initial receipt.

While it remains unclear what the House’s final proposal will look like, the hearing title—“Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century”—signals a push for industry-friendly reforms. With bipartisan interest growing, the path toward rational, investor-focused tax rules for crypto may finally be taking shape.