U.S. House Advances Digital Asset Tax Certainty Act

Key Insights:

• The crypto tax bill would remove certain calculations for stablecoin payments.
• CCI seeks changes to the tax treatment of staking rewards, opposing taxation upon receipt of rewards.
• CCI says 88% of centralized exchange trading volume occurs on non-U.S. platforms.

The U.S. House Ways and Means Committee advanced a broad crypto tax bill on Sept. 16, while industry groups continued to seek changes to its staking and mining provisions.

The committee approved the Digital Asset Tax Certainty Act, H.R. 10357, by 38-5. The legislation addresses stablecoin payments, transaction fees, digital asset lending, mining and staking, wash-sale rules, and other tax issues.

For businesses accepting qualified U.S. dollar payment stablecoins, Title I would remove certain gain-and-loss calculations. That treatment would cover stablecoins accepted or redeemed at face value during ordinary business operations.

CCI said the provision recognizes these tokens as payment mechanisms rather than investment assets.

The council linked that approach to the GENIUS Act’s objective of advancing the adoption of payment stablecoins. Its letter said that reducing calculation requirements would support the practical use of stablecoins as digital cash. The proposal, therefore, forms a central part of CCI’s support for the crypto tax bill.

Beyond stablecoins, the letter addressed provisions intended to reduce reporting and compliance burdens for routine blockchain activity.

CCI welcomed those measures while requesting broader relief for small digital asset payments. Specifically, it urged lawmakers to consider de minimis relief beyond network and transfer fees.

The letter then turned to staking and mining rewards, where CCI identified a major disagreement with the proposed treatment. H.R. 10357 addresses the source of stakeholder income, which the council called a longstanding competitiveness concern for American stakeholder infrastructure. However, its concerns center on the separate question of when the tax becomes due.

CCI said the crypto tax bill would classify staking and mining rewards as ordinary income and codify taxation upon receipt.

That treatment would include locked rewards that holders cannot sell or otherwise dispose of. The council argued that this creates tax liabilities before recipients realize an economic gain.

Instead, CCI requested a disposition-based approach to taxing newly created staking and mining rewards. It said this would better align taxation with the economic realities of blockchain networks while improving certainty and administration.

CCI also connected its proposed changes to the location of trading activity, developers, and blockchain infrastructure. Its letter said approximately 88% of centralized exchange trading volume occurs on platforms outside the United States. Meanwhile, the American share of global crypto developers fell from 38% to 19% over the past decade.

Across the ten largest proof-of-stake networks, fewer than 29% of validator nodes are located in the United States, according to CCI. The council cited those figures in calling for durable crypto tax rules. It also described statutory certainty as a competitiveness issue within U.S. crypto regulation.

Alongside those requests, CCI urged lawmakers to reserve revenue from digital asset reforms for further improvements to that framework. It cautioned against using those revenues to offset unrelated provisions that could weaken the legislation’s competitiveness objectives.

This article is for informational purposes only and does not constitute financial, investment, or tax advice. Proposed legislation can change during the congressional process, and taxpayers should consult a qualified professional regarding individual tax obligations.

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