The House Ways and Means Committee has scheduled a hearing for June 9 to consider seven draft crypto tax bills. The proposals would eliminate tax on de minimis small transactions and address taxation of stablecoin activity and network fees, while covering assets acquired through crypto mining. They would seek to reduce the taxation burden on mining and staking and industry figures, including Cody Carbone of the Digital Chamber, welcomed the hearing and said the committee would refine the proposals and push for tax clarity and fairness for digital assets.
The seven draft crypto tax bills include a proposal to eliminate tax on de minimis small transactions, removing taxation on very low-value digital-asset exchanges. Other proposals address taxation of stablecoin activity and of network fees, setting out treatment for transactions involving stablecoins and for fees charged on blockchain networks. The drafts also include provisions covering taxation of assets acquired through crypto mining, specifying tax treatment for assets received as mining proceeds.
Several drafts discuss merging digital assets with the existing tax treatment of securities, proposing to align certain digital-asset tax rules with those that apply to securities. The bills consider applying wash sale rules to crypto, extending those loss-recognition rules to digital-asset transactions where specified. Finally, the proposals would remove an appraisal requirement for charitable donations of digital assets, eliminating the appraisal obligation for those types of donations.
Cody Carbone, CEO of the Digital Chamber, welcomed the scheduled House Ways and Means Committee hearing and said the committee would refine these proposals and keep the bipartisan tax effort moving forward. Carbone also said the committee should work to strengthen the drafts and deliver the tax clarity and fairness digital assets deserve. Senator Cynthia Lummis is noted as leading a digital assets subcommittee, and past efforts to advance crypto tax policy have included attempts to attach related ideas to the legislative package known as The One Big Beautiful Bill. The Digital Asset Market Clarity Act is cited as providing tools to combat illicit finance involving cryptocurrency, and industry participants view it as a top policy focus. These statements summarize named industry and legislative perspectives on the draft crypto tax bills.
The June 9 House Ways and Means Committee hearing will bring seven draft crypto tax bills before the committee. The drafts are intended to improve tax clarity and fairness for digital assets and to reduce tax burdens associated with mining and staking. Committee consideration and related bipartisan initiatives, including the Digital Asset Market Clarity Act, form part of the broader legislative context for refining these measures.
