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Crypto

Blockchain Association urges U.S. Congress to overhaul crypto tax rules

The Blockchain Association urged U.S. lawmakers to overhaul digital asset tax rules, calling for exemptions for small transactions and for stablecoins to be treated as cash for tax purposes. It also sought taxation of mining and staking rewards when they are sold, and limits on broker reporting duties to intermediaries that custody or control customer assets. The group did not endorse specific legislation and said it would continue discussions as bills move forward.

Crypto

U.S. House tax panel passes crypto tax overhaul bill, sending it to full House

The U.S. House Ways and Means Committee passed a bill to overhaul the taxation of digital assets and sent it to the full House. The Digital Asset Tax Certainty Act, approved 38-5, sets tax standards for crypto transaction fees, stablecoins, mining, staking and digital asset lending. The bill would reduce tax calculation burdens in some cases, including qualifying network or transaction fees of $10 or less. It would also adjust investor rules, including wash-sale provisions, and align parts of digital asset taxation with existing rules for financial assets.

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