A U.S. House of Representatives panel is poised to vote on a major crypto tax effort on Wednesday, potentially kicking off the legislative process for crypto taxes.
The House Ways and Means Committee released a 114-page crypto tax bill late Monday ahead of a Wednesday markup hearing, where lawmakers will debate provisions and vote on whether or not to advance the measure. The bill, titled the "Digital Asset Tax Certainty Act," addresses de minimis transactions, gain and loss accounting, transfers, wash sale rules, mining,staking and broker requirements, among others.
The bill follows previous efforts by Representatives Steven Horsford and Max Miller, who introduced various versions of crypto tax legislation over the past year.
The bill would eliminate taxes on de minimis network or transaction fees, meaning any fees below $10, though a person "that engaged in more than 5,000 transfers" over the prior year would be excluded. Eliminating taxes on minor transactions has been a major ask from the crypto industry in recent years, with advocates arguing that cutting the taxes would better enable digital assets for small purchases, such as cups of coffee. Currently,people transacting with digital assets must report the capital gain or loss on those transactions, even if they're small-dollar amounts.
Many of the provisions in the bill address tokenized assets, while another section tries to clarify how ownership might be treated for digital asset disposition purposes.
The bill directs the U.S. Treasury secretary and Internal Revenue Service to develop and publish new rules as needed.
The House Ways and Means markup, scheduled for 10:00 a.m. ET on Wednesday, Sept. 16, could mark the first significant movement for crypto tax legislation in the U.S. Congress, though the bill is unlikely to become law this year. The House of Representatives is set to break later this week until after the November election, giving it limited time to debate and vote on a tax bill. Still, any progress on legislation in 2026 could set up a continuation of the work in 2027, when the new Congress is sworn in.
The House could be occupied by the Digital Asset Market Clarity Act when it returns to Washington, D.C. later in the fall, assuming the Senate is able to pass the bill — an outcome that is also far from certain as of press time. The Senate is scheduled to hold its first vote on Tuesday, and needs 60 lawmakers to support the measure to continue the debate and legislative process. Democrats have expressed concerns about a revised ethics provision included in the bill's text shared Sunday.