House Ways and Means Committee Circulates Seven Crypto Tax Bills Ahead of June 9 Hearing

The House Ways and Means Committee has circulated seven bill proposals ahead of a legislative hearing scheduled for June 9 to discuss taxation of digital assets. The proposals would address tax treatment of stablecoins, staking, mining, and other crypto transactions, while also reducing tax burdens on certain transactions below specified thresholds.

According to draft texts, the proposals would establish de minimis limits for network fees and simplify accounting for capital gains and losses. Notably, one provision would exempt regulated stablecoins worth less than $200 from capital gains taxes to reduce compliance burdens on everyday purchases. Cody Carbone, CEO of the Digital Chamber, said the advocacy group looks forward to working with lawmakers to "strengthen the drafts and deliver the tax clarity and fairness digital assets deserve."