House Panel Advances Crypto Tax Bill With Bipartisan Support

The U.S. House Ways and Means Committee has advanced a major cryptocurrency tax bill aimed at clarifying how digital assets are treated under federal tax law and reducing compliance burdens for everyday crypto transactions.

The committee considered H.R. 10357, the Digital Asset Tax Certainty Act, during a September 16 markup, moving the legislation toward consideration by the full House. The measure follows months of congressional work on digital asset taxation, including a June hearing focused on modernizing crypto tax rules.

A central provision would establish a $10 de minimis threshold for certain small crypto transactions. The change is designed to make routine cryptocurrency payments easier by limiting tax-accounting requirements for qualifying transactions. Supporters argue that current rules, which generally treat digital assets as property, can make even small purchases complicated for taxpayers.

The broader legislation addresses several other areas of cryptocurrency taxation, including mining and staking rewards, transfers, broker reporting requirements and wash-sale rules. It also seeks greater parity between digital assets and traditional financial instruments. Earlier proposals examined by the committee included measures covering network fees, stablecoins, crypto lending, mark-to-market accounting and anti-abuse provisions.

Committee Chairman Jason Smith has argued that clearer rules are necessary because existing tax requirements can create excessive paperwork for digital asset users. Representative Steven Horsford, a Nevada Democrat involved in crypto tax policy, has also supported establishing clearer treatment for everyday digital asset transactions.

The legislation faces a tight congressional calendar, potentially limiting the time available for both chambers to act before the next session begins. Still, advancing the bill establishes momentum for cryptocurrency tax reform even if lawmakers do not complete the process this year.

The proposal also comes as Congress remains divided over broader cryptocurrency regulation. Critics of the tax measure, including Democratic Representative Lloyd Doggett of Texas, have questioned whether lawmakers should prioritize crypto-related tax changes over other taxpayer concerns.

The Ways and Means Committee’s action nevertheless puts digital asset taxation back on Congress’ agenda, with the full House representing the next major stage for the legislation.