🇺🇸 House Panel Advances Crypto Tax Bill

The U.S. House Ways and Means Committee voted 38–5 to advance the Digital Asset Tax Certainty Act, setting out the first federal tax framework specifically for crypto.

The bill would exempt network and transaction fees of $10 or less from tax, although the exemption for service providers would not take effect until December 2027.

It would also tax mining and staking rewards as ordinary income, allow certain investment trusts to stake without losing their tax status, and create a voluntary disclosure programme for taxpayers to amend earlier returns.

The bill still leaves the timing of mining and staking income recognition unresolved. With the House leaving Washington until after the November elections, the legislation could move during the lame-duck period, while attention may now turn to the Senate Finance Committee.