House Ways and Means Committee releases sweeping crypto tax bill ahead of markup

The House Ways and Means Committee unveiled the Digital Asset Tax Certainty Act on Monday, moving the proposal toward a markup scheduled for Wednesday. The bill aims to clarify federal tax treatment for a range of digital‑asset activities.

De‑minimis fee exception

Taxpayers who pay a qualifying network or transaction fee in cryptocurrency will not need to record a gain or loss if the fee is $10 or less. This provision, along with a simplified annual accounting option for widely traded digital assets, would take effect in 2028.

Stablecoin treatment

The legislation addresses small deviations from the $1 peg for qualifying U.S. dollar‑linked stablecoins. Redemption values that are close to the peg would be treated as the tax basis for the holder.

Mining, staking and wash‑sale rules

Income from mining and staking activities would be taxed as ordinary income. The bill also extends wash‑sale rules to traded digital assets, disallowing a loss if the same or a substantially identical asset is acquired within a 30‑day window before or after the sale. Transfers of traded digital assets under lending agreements would not be treated as sales or exchanges.

Voluntary disclosure program

Within 12 months of enactment, the Treasury Department must create a Digital Asset Voluntary Disclosure Program, allowing eligible taxpayers to amend prior returns and settle taxes, interest, and penalties.

Next steps

The committee plans to hold the markup on Wednesday at 10 a.m. ET.