Full Breakdown
House Ways and Means Committee Advances First-Ever Crypto Tax Framework
By Drooid · · How we work
Core Event: Committee Vote Advances the Digital Asset Tax Certainty Act
On September 16, 2026 the House Ways and Means Committee voted 38-5 to advance H.R. 10357, the Digital Asset Tax Certainty Act. The 114-page proposal rewrites the Internal Revenue Code to treat digital-asset transactions more like traditional financial assets. It moves the bill from markup to consideration by the full House, where further debate and a floor vote remain pending.
Background & Context
Congressional attempts to clarify cryptocurrency taxation have spanned more than a year. Earlier drafts circulated in June sought broader deferral options for mining and staking rewards, but those provisions did not survive the final markup. Simultaneously, the Senate failed to advance the CLARITY Act, a market-structure bill that would delineate oversight between the SEC and the CFTC. The Senate’s procedural defeat left the House tax proposal as the primary legislative vehicle for crypto-related reform.
Data & Statistics
- Vote tally: 38 in favor, 5 opposed.
- Bill length: 114 pages.
- De-minimis exemption: Gains or losses are not recognized on network or transaction fees of $10 or less, except for taxpayers who made more than 5,000 transfers in the prior year.
- Stablecoin rule: Applies a basis band of 99.5 %–100.5 % of redemption value for qualifying U.S. dollar-pegged stablecoins.
- Wash-sale extension: Disallows loss deductions when a substantially identical digital asset is repurchased within 30 days before or after a sale.
- Voluntary disclosure: Treasury is directed to establish a Digital Asset Voluntary Disclosure Program within one year of enactment.
Official Statements & Responses
Committee Chairman Jason Smith called the legislation a “historic moment” that delivers “clarity, parity and workability” to digital-asset taxation and helps keep the United States a leading crypto hub. Senator Cynthia Lummis criticized the Senate’s handling of the CLARITY Act, alleging that Democrats repeatedly shifted demands and impeded progress.
Criticism & Opposition
Industry groups—including the Blockchain Association, Crypto Council for Innovation, and the Digital Chamber—advocated for a deferral provision that would allow miners and stakers to postpone tax on newly minted tokens until the assets are sold. They argue that taxing rewards at receipt creates liquidity constraints for participants. The omission of that provision from the committee’s markup text was noted as a sticking point for miners, stakers, and their tax advisors.
Conflicting Reports & Gaps
Sources diverge on the treatment of mining and staking rewards. Most reports (e.g., the committee text, analyses from *Unchained Crypto* and *KuCoin*) state that such rewards are taxed as ordinary income when received, with no election to defer. The discrepancy reflects differing interpretations of the bill’s language and may be clarified in subsequent House debate or amendment.
Verbatim Quotes
- “It gives crypto owners clear guidelines and treats digital assets like other financial assets,” — Rep. Rudy Yakym
- “This is a historic moment for this Committee: after more than a year of working together, Republican and Democrat Members have come together to establish the first-ever tax framework for digital assets,” — Rep. Jason Smith, committee chairman
What’s Next
The bill now proceeds to the full House of Representatives. With the chamber slated to recess later in the week and not reconvene until after the November election, the timeline for a final vote is uncertain. Lawmakers and industry stakeholders will monitor any amendments—particularly regarding the mining-staking deferral issue—and the development of the Treasury-run voluntary disclosure program.