House Committee Approves Digital Asset Tax Certainty Act Amid Clarity Act Setback
The House Ways and Means Committee approved the Digital Asset Tax Certainty Act, advancing a proposal to reform crypto taxation. The bill aims to simplify tax calculations for digital assets by removing gain-or-loss requirements on small network fees starting in 2028, classifying mining and staking rewards as ordinary income, and extending wash-sale rules to traded cryptocurrencies. The legislation also allows certain investment trusts to stake assets without losing their tax status. It excludes a prior provision that would have allowed deferral of some mining and staking gains. The bill moves forward after the Senate failed to advance its own Clarity Act on crypto oversight, with regulators vowing to proceed under existing authority. The proposal now heads to the full House for consideration before requiring Senate approval and presidential signature.
Topics: crypto House Committee legislation taxation