House committee unveils crypto tax bill ahead of this week’s hearing

The House Ways and Means Committee has issued a 114-page digital asset tax proposal covering de minimis transactions, staking, and several other areas where the industry has long sought policy guidance.

A House of Representatives committee is expected to vote Wednesday on a major crypto tax initiative, potentially launching the formal legislative process for digital asset taxation.

The House Ways and Means Committee made the 114-page bill public late Monday ahead of its Wednesday markup, when lawmakers will debate the provisions and decide whether to advance the measure. Titled the “Digital Asset Tax Certainty Act,” the proposal addresses de minimis transactions, gain-and-loss accounting, transfers, wash-sale rules, mining, staking, broker requirements, and other issues.

The legislation builds on earlier efforts by Representatives Steven Horsford and Max Miller, who introduced multiple versions of crypto tax bills over the past year.

The bill would remove taxes on de minimis network or transaction fees, meaning fees below $10. However, anyone who completed more than 5,000 transfers during the previous year would not qualify. Waiving taxes on minor transactions has been a major request from the crypto industry in recent years, with supporters arguing that doing so would make digital assets more practical for small purchases such as coffee. Currently, people using digital assets must report the capital gain or loss on those transactions, even when the amounts are small.

Several provisions focus on tokenized assets, while another section seeks to clarify how ownership may be treated when digital assets are disposed of.

The proposal directs the U.S. Treasury secretary and the Internal Revenue Service to develop and publish new regulations as necessary.

The House Ways and Means markup, scheduled for 10:00 a.m. ET on Wednesday, Sept. 16, could represent the first substantial progress on crypto tax legislation in Congress, although the bill is unlikely to become law this year. The House of Representatives is scheduled to break later this week and remain out until after the November election, leaving limited time to debate and vote on the tax proposal. Even so, any legislative progress in 2026 could pave the way for the work to continue in 2027, when the new Congress is sworn in.

When it returns to Washington, D.C., later in the fall, the House could focus on the Digital Asset Market Clarity Act, assuming the Senate passes the measure. That outcome also remained uncertain as of press time. The Senate is scheduled to hold its first vote Tuesday and needs 60 lawmakers to support the proposal to continue the debate and legislative process. Democrats have raised concerns about a revised ethics provision included in the bill text shared Sunday.

Tokenized equities are leading RWA inflows as the market rebounds, with Binance’s bStocks reaching about $118.5 million in two months. It is now the No. 2 issuer and represents roughly 90% of on-chain equity DEX volume.

Why this matters:

Tokenized equities are driving RWA inflows as the market recovers. Binance’s bStocks has reached approximately $118.5 million in two months, becoming the No. 2 issuer and accounting for about 90% of on-chain equity DEX volume.