In brief:
₿- The bill would introduce a $10 de minimis exemption for qualifying crypto network and transaction fees from 2028 and simplify taxation for certain stablecoin transactions.
₿- Proposed changes would clarify tax treatment for mining, staking, crypto loans, investment trusts, and wash-sale rules for digital assets.
The U.S. House Ways and Means Committee has advanced legislation that would introduce significant changes to how digital assets are taxed in the United States. The Digital Asset Tax Certainty Act, introduced as H.R. 10357, now moves to the full House for consideration after the committee approved the bill during a Wednesday markup.
Crypto tax bill targets transaction fees and stablecoins
One of the bill’s most notable provisions would create a de minimis tax exemption for certain digital asset transactions and network fees. Starting in 2028, qualifying fees of $10 or less would not require users to calculate a capital gain or loss when paying with crypto.
The provision addresses a specific tax complication created by treating digital assets as property. Under existing rules, spending crypto can constitute a taxable disposal, meaning users may need to determine the asset’s value when acquired and when spent, even when the transaction involves only a small fee.
The legislation would also simplify the tax treatment of qualifying dollar-denominated stablecoins when they are exchanged close to their redemption value. Together, the provisions aim to reduce tax-accounting requirements for routine digital asset activity.
Mining, staking, and crypto investment rules
The proposed legislation would classify mining and staking rewards as ordinary income, establishing a clearer framework for taxpayers receiving digital assets through these activities. However, lawmakers removed an earlier provision that would have allowed taxpayers to defer recognition of certain mining and staking rewards.
Investment trusts could also receive greater flexibility to participate in staking without automatically jeopardising their tax treatment solely because they stake digital assets.
Another major provision would extend wash-sale rules to digital assets. Under the proposal, investors generally could not immediately claim a loss after selling a digital asset and acquiring a substantially identical asset within the 30 days before or after the transaction.
The bill would additionally provide tax treatment for qualifying crypto loans and establish a disclosure mechanism allowing eligible taxpayers to correct certain previous returns.
Bill follows stalled crypto market legislation
The committee’s action comes shortly after the Senate failed to advance the separate CLARITY Act, which focuses on the broader regulatory framework for crypto markets. The two bills address different areas of U.S. crypto policy, with the Digital Asset Tax Certainty Act concentrating specifically on taxation.
However, committee approval does not make the proposal law. It must still pass the House and Senate in identical form before reaching the president for signature.
If enacted, the legislation could reshape tax reporting for crypto transactions, staking, mining, stablecoins, and digital asset investment structures in the United States.
Disclaimer: The content of this article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers should conduct their own research and consult a qualified cryptocurrency advisor before making any investment decisions.
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Rodcas Consulting Group