The US House Ways and Means Committee has approved the Digital Asset Tax Certainty Act, securing bipartisan support with a 38–5 vote. The legislation aims to reform federal tax regulations concerning stablecoins, crypto lending, staking, and mining activities.
Key provisions include specific tax treatment for dollar-pegged stablecoins and certain lending agreements. The bill also introduces a de minimis exemption for transaction fees of $10 or less, allowing taxpayers to bypass capital gains or losses reporting for these payments.
Additionally, the act proposes extending wash-sale rules to digital assets. Following the committee's approval, the bill will now proceed to the full House of Representatives for further consideration.
This development follows the Senate's rejection of the CLARITY Act, which failed to reach the 60-vote threshold required for debate. SEC Chair Paul Atkins and CFTC Chair Michael Selig stated that their agencies will continue to regulate the crypto sector using existing authority.
