The US House Ways and Means Committee will review a broad digital asset tax package that excludes a key proposal sought by crypto miners and stakers.
The 114-page Digital Asset Tax Certainty Act, H.R. 10357, does not include a provision that would delay taxes on newly created tokens until they are sold. The committee published the bill Monday ahead of a markup scheduled for Wednesday.
That approach differs from the Tax Clarity for Mining and Staking Act, which Representative Mike Carey introduced in June. His proposal would allow taxpayers to decide when to recognize mining and staking rewards as income.
One option would tax tokens when they are received. The other would treat them more like property created by the taxpayer, with tax due upon sale.
Leaving that provision out means staking and mining rewards would generally remain taxable once recipients receive or control them. This could create a tax obligation before recipients convert the tokens into cash.
Industry groups have pushed Congress to change that treatment. The Blockchain Association, Crypto Council for Innovation and Digital Chamber previously backed Carey’s legislation as introduced.
They argued that taxing rewards before a sale can create liquidity difficulties for miners and stakers. The groups also opposed a proposed amendment that would have capped the tax deferral period at five years.
Bill Retains Broader Crypto Tax Provisions
Although the reward-deferral proposal is absent, H.R. 10357 retains several measures affecting mining, staking and other digital asset activity.
The legislation would classify income earned from blockchain validation as ordinary income. It would also establish rules for determining whether that income is sourced within or outside the United States.
Investment trusts that qualify under the bill could stake digital assets while retaining their trust status.
The package also proposes relief for small blockchain-related payments. Using crypto for transaction or network fees of $10 or less would not require taxpayers to recognize a gain or loss.
Additional provisions cover dollar-linked stablecoins and digital asset lending. Eligible US dollar stablecoins would receive specialized tax treatment, while qualifying crypto loans could avoid being treated as taxable sales.
The bill would also bring digital assets within constructive-sale and wash-sale rules while introducing simplified accounting methods for widely traded crypto assets.
Another measure would establish an optional disclosure process through which taxpayers could address earlier digital asset tax violations.
Earlier in June, the committee circulated seven crypto tax proposals before holding a hearing on digital asset taxation. The drafts covered stablecoin taxation, mining and staking, as well as efforts to reduce reporting burdens tied to crypto transactions.
The House tax debate is unfolding alongside a broader push to establish US rules for digital assets. The Senate is separately considering whether to advance the CLARITY Act, which addresses how the SEC and CFTC would divide oversight of the crypto market.