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The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in a 38-5 vote on Sept. 16, moving a broad rewrite of federal crypto tax rules toward the full House. The vote came one day after the Senate failed to advance the separate CLARITY Act, although the two bills address different parts of digital-asset policy.
Bill Targets Stablecoins, Fees, and Crypto Accounting
H.R. 10357 would exempt gain or loss when digital assets are used to pay qualifying network or transaction fees of $10 or less. It would also change the tax treatment of qualifying U.S. dollar stablecoin transactions and create an elective simplified accounting method for certain widely traded digital assets.
The legislation would extend or adapt several tax rules used for traditional financial assets to qualifying digital assets, including lending safe harbors, mark-to-market treatment for eligible dealers and traders, charitable-donation provisions, and wash-sale and constructive-sale rules.
Mining and Staking Rules Address Tax Treatment
The bill would establish sourcing rules for income generated through mining and staking. Validation income would generally be treated as ordinary income, with sourcing determined under the bill’s residency and business-location rules.
The measure would also allow qualifying investment trusts to stake digital assets without losing their tax status solely because they engage in staking. It does not create a broad rule delaying taxation of mining or staking rewards until sale.
Committee Chairman Jason Smith said the measure would be the “first-ever federal law to address the substantive tax treatment of cryptocurrencies and other digital assets.”
Separate CLARITY Vote Failed in Senate
The committee action followed the Senate’s Sept. 15 vote on the Digital Asset Market Clarity Act, which addresses regulation of digital commodities rather than federal tax treatment. Senators rejected cloture on the motion to proceed 49-50, falling short of the 60 votes required to advance the measure at that stage.
The vote was procedural and did not amount to final rejection of the CLARITY Act. H.R. 10357 is proceeding separately through the House and has not yet passed either chamber.
Full House Consideration Comes Next
The Ways and Means vote sends the amended tax bill forward for possible consideration by the full House. It would still need approval from both chambers in identical form before reaching the president.
The package also directs Treasury to establish a digital-asset voluntary disclosure program and clarifies broker-reporting rules.
