House Advances Long‑Sought ‘De Minimis’ Crypto Tax Break

A U.S. House committee is set to mark up a bill that would create a "de minimis" tax exemption for cryptocurrency transactions. The legislation aims to simplify the tax reporting burden for small‑scale digital‑asset trades by establishing a threshold below which gains would not be subject to federal tax.

Key Provisions

• Creates a specific exemption amount for digital‑asset transactions.
• Seeks to replace the current complex reporting requirements for crypto gains.
• Would apply to all federally‑taxed digital assets.

Legislative Path

While the House committee is moving forward with a markup this week, the bill must still pass the full House, the Senate, and be signed by the President before becoming law.