House panel advanced crypto tax bill, passing the Digital Asset Tax Certainty Act 38-5, the first federal framework for taxing digital assets in the US.
The bill, led by Ways and Means Chair Jason Smith, would exempt de minimis on-chain fees under $10 from tax, expand wash-sale rules to cover digital assets, and clarify how mining and staking rewards are treated. Users making more than 5,000 transfers a year would not qualify for the fee exemption. It cleared committee a day after the Senate's CLARITY Act failed a cloture vote, and the two measures are seen as complementary: one sets tax rules, the other market structure.
The measure now heads to the full House, giving the industry its clearest signal yet on how Washington intends to tax everyday crypto activity.
Partner Offers | Get Your Instant BTC Cashback | Your Gateway To Crypto | Arcus Private Whitelist
