On May 30, Jason Smith, Chairman of the U.S. House Committee on Ways and Means, stated that digital asset tax legislation must receive bipartisan support to move forward. Subsequently, Representatives Steven Horsford, Max Miller, Suzan DelBene, and Mike Carey jointly introduced the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Revenue Act (PARITY Act), aimed at updating tax rules, strengthening investor protections, and preventing market manipulation. Steven Horsford said the bill would help ordinary investors participate in the market more safely; Max Miller argued that current tax laws are no longer suited to the evolution of digital assets. The PARITY Act and the CLARITY Act are regarded as key components of the U.S. cryptocurrency regulatory framework.
U.S. House Panel Advances Bipartisan Digital Asset Tax Legislation
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Summary
On May 30, U.S. House Ways and Means Committee Chair Jason Smith stated that digital asset regulation must secure bipartisan support to pass. Later, Representatives Horsford, Miller, DelBene, and Carey introduced the PARITY Act to modernize capital gains tax rules, enhance investor protection, and combat market manipulation. Horsford said the bill would enable everyday investors to participate more safely. Miller noted that current tax laws are outdated for digital assets. The PARITY Act and the CLARITY Act are viewed as key components of the U.S. crypto regulatory framework.
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