Lawmakers are set to debate several cryptocurrency tax bills Tuesday afternoon amid growing questions over how tax rules should apply to digital assets and whether the measures can attract bipartisan support.
The House Ways and Means Committee, the primary tax-writing panel in the House, is set to hold a hearing at 2 p.m. ET to discuss a slew of crypto bills — from language that would create a cap for when assets would be taxable to clarifying how taxes apply to staking and mining.
The hearing comes as Senate lawmakers grapple with how to advance the Clarity Act, legislation that would establish the first comprehensive federal framework for regulating the cryptocurrency industry. It follows last year’s enactment of a federal stablecoin bill, with regulators now working to implement its provisions.
Alison Mangiero, senior director of the staking coalition and industry affairs at the Crypto Council for Innovation, called tax policy the "third leg of the stool."
"You can have stablecoin policy, you can have the Clarity Act pass, but without tax policy that recognizes digital assets as kind of an essential pillar, then the other two fall apart," Mangiero said in an interview with The Block.
