Search results for House Ways and Means Committee
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.
Crypto
Tech group including Amazon, Apple and Google urges U.S. Senate to pass Clarity Act
The U.S. Consumer Technology Association (CTA), whose members include Amazon, Apple and Google, urged the U.S. Senate to quickly pass the Clarity Act, a digital asset market structure bill. Senator Cynthia Lummis publicly backed the measure, saying developers should not need lawyers to determine whether their code is legal. The bill would divide oversight between the SEC and CFTC, set standards for tokens and include protections for open-source developers and self-custody providers.
Crypto
U.S. crypto industry seeks tax exemption for mining, staking rewards; passage unclear this year
The U.S. cryptocurrency industry is urging Congress to swiftly pass a tax bill that would exclude mining and staking rewards from taxable income. Three industry groups pressed House leaders to keep the current compromise text, warning that revisions could weaken momentum. Democrats have raised concerns the measure could favor crypto over traditional assets and affect capital allocation. With election timing and uncertain bipartisan support, prospects for passage remain unclear.
