The most powerful tax-writing committee in Congress just turned its attention to crypto. The House Ways and Means Committee convened on June 9 to discuss a sweeping package of bills designed to overhaul how digital assets are taxed in the United States.
Led by Chairman Jason Smith (R-MO), the committee circulated seven draft bills between June 5 and 8, covering everything from de minimis exemptions for small crypto transactions to clearer rules around mining, staking, and stablecoin activity.
What’s actually on the table
The hearing featured six bills and one discussion draft, each targeting a different pain point in the current crypto tax regime. Among the most closely watched provisions are de minimis exemptions, which would spare everyday users from reporting tiny transactions. Other measures tackle the murky tax treatment of mining and staking rewards, an area where the IRS has offered minimal guidance. The bills also address stablecoin activity, which has exploded in volume but exists in a regulatory gray zone.
Key sponsors include Reps. Max Miller (R-OH) and Steven Horsford (D-NV), the latter being notable as a Democrat co-sponsoring what is largely a Republican-driven effort.
