{"id":24130,"date":"2026-06-10T12:47:17","date_gmt":"2026-06-10T12:47:17","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/10\/u-s-congress-proposes-new-tax-rules-for-digital-assets-nft-plazas\/"},"modified":"2026-06-10T12:47:17","modified_gmt":"2026-06-10T12:47:17","slug":"u-s-congress-proposes-new-tax-rules-for-digital-assets-nft-plazas","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/10\/u-s-congress-proposes-new-tax-rules-for-digital-assets-nft-plazas\/","title":{"rendered":"U.S. Congress Proposes New Tax Rules For Digital Assets – NFT Plazas"},"content":{"rendered":"

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House Ways and Means Committee opens debate on the most sweeping digital asset tax overhaul in over a decade<\/span><\/i><\/p>\n

The U.S. House of Representatives took its most substantive step yet toward overhauling the taxation of digital assets this week, as the House Ways and Means Committee held a full hearing on a package of seven draft bills that could fundamentally reshape how crypto investors, miners, stakers, and everyday users interact with the tax code.<\/span><\/p>\n

The committee convened the session on June 9, 2026, with Chairman Jason Smith announcing the hearing on June 2. The seven discussion-draft bills collectively address pain points that crypto users have been raising for years \u2014 from de minimis exemptions on small transactions to staking reward deferrals and wash sale rule extensions.<\/span><\/p>\n

In his opening statement, Smith declared the current situation untenable: \u201cAmerica needs clear tax rules of the road to remain the crypto capital of the world.\u201d He noted that roughly a quarter of Americans \u2014 over 67 million people \u2014 now own cryptocurrency, a dramatic increase from just 3% at the start of the decade.<\/span><\/p>\n

Seven Bills, One Strategy<\/span><\/h2>\n

The Ways and Means Committee is preparing legislation that would grant cryptocurrency holders greater flexibility in reporting gains on investments. Smith has made establishing a framework for the taxation of digital assets a top priority for the committee.<\/span><\/p>\n

Rather than consolidating all reforms into a single omnibus bill, the decision to advance seven separate drafts is a deliberate tactical choice. Breaking the issues apart makes it easier to build coalitions around individual provisions \u2014 a lawmaker opposed to wash sale changes could still support de minimis relief without voting against an entire package.<\/span><\/p>\n

The package follows the bipartisan Digital Asset PARITY Act, formally introduced on May 19 by Reps. Max Miller (R-Ohio) and Steven Horsford (D-Nev.), which would largely exempt payment stablecoins from tax reporting requirements unless a gain or loss exceeds 1% of the asset\u2019s value.<\/span><\/p>\n

U.S. Congress Proposes New Tax Rules For Digital Assets<\/span><\/em><\/p>\n

The De Minimis Problem<\/span><\/h2>\n

Among the most closely watched proposals is the de minimis exemption. Under current law, every crypto transaction \u2014 including a small everyday purchase \u2014 triggers a taxable event requiring gain-and-loss calculation, a compliance burden long cited as the primary obstacle to crypto functioning as a practical medium of exchange.<\/span><\/p>\n

The House\u2019s current de minimis proposal, contained in the \u201cLess Tax Paperwork for Digital Asset Owners Act,\u201d is narrow: it exempts crypto network gas fees under $10, capped at 5,000 transactions per taxpayer per year. Buying goods or services with Bitcoin, ETH, or a stablecoin remains a fully reportable taxable event. The Senate\u2019s competing bill from Sen. Cynthia Lummis proposes a broader $300 per-transaction threshold with a $5,000 annual cap \u2014 a gap between the two chambers that will require resolution before any final legislation can pass.<\/span><\/p>\n

Kevin Wysocki, Anchorage Digital\u2019s head of policy<\/span><\/i><\/p>\n

Mining, Staking, and the Double-Tax Fix<\/span><\/h2>\n

A second key proposal would defer taxes on mining and staking rewards until the assets are sold, rather than taxing them at the point of receipt \u2014 eliminating the double-taxation scenario that has frustrated validators and miners for years.<\/span><\/p>\n

That provision, however, drew pointed objections. Witness Mike Kaercher of the Tax Law Center at NYU Law argued the deferral \u201cviolates parity with traditional finance,\u201d warning it could allow some taxpayers to permanently escape taxation through certain business structures. Democrats on the committee raised significant concerns about the potential for deferred taxation of mined digital assets being gamed by mining companies.<\/span><\/p>\n

Closing the Wash Sale Loophole<\/span><\/h2>\n

The package also moves to close a long-standing disparity between crypto and equities. Currently, investors can sell crypto at a loss to claim a tax deduction and immediately repurchase the same asset \u2014 a strategy called wash sale trading that is prohibited for stocks. The PARITY Act would write a 30-day restriction directly into crypto loss harvesting. Under the new rules, investors would need to wait 30 days after a sale to preserve the deduction, or risk it being disallowed.<\/span><\/p>\n

Bipartisan Support \u2014 With Caveats<\/span><\/h2>\n

The June 9 hearing revealed a lack of full bipartisan consensus, with industry leaders pushing to expand the legislation while Democrats questioned whether the process should be slowed significantly. Ranking Democrat Richard Neal acknowledged being \u201caligned with that goal \u2014 eventually,\u201d adding there is \u201chealthy skepticism on both sides.\u201d<\/span><\/p>\n

Alison Mangiero of the Crypto Council for Innovation called the hearing \u201can important first step,\u201d noting that the format \u2014 where members work through specific legislation with expert witnesses before any markup \u2014 is one the committee has not used in years.<\/span><\/p>\n

Rep. Miller told attendees at the Blockchain Association\u2019s policy summit that he believes a bill can move before the August 2026 recess, and that a lead Democratic co-sponsor is expected to be announced soon. Both chambers must ultimately agree on any final text before legislation can be signed into law \u2014 and with the congressional session ending in late 2026, the clock is running.<\/span><\/p>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

House Ways and Means Committee opens debate on the most sweeping digital asset tax overhaul in over a decade The U.S. House of Representatives took its most substantive step yet toward overhauling the taxation of digital assets this week, as the House Ways and Means Committee held a full hearing on a package of seven […]<\/p>\n","protected":false},"author":1,"featured_media":24131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[16],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftplazas.com\/wp-content\/uploads\/2026\/06\/1-1-16.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/24130"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=24130"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/24130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/24131"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=24130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=24130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=24130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}