The US House Ways and Means Committee scheduled a review of two bills, H.R. 9175 and H.R. 9172, on September 16. These legislative proposals aim to modify tax calculation mechanisms for crypto investors, traders, and miners. While the committee calendar did not list these hearings at the time of reporting, the bills represent a significant shift in how digital assets are treated for tax purposes.
The Tax Clarity for Mining and Staking Act (H.R. 9175) provides taxpayers with two options for tokens acquired through mining or staking. Users can either report these assets as ordinary income at fair market value upon receipt or defer income recognition until the assets are sold. This measure seeks to provide clearer guidelines for those involved in transaction validation processes.
The Applying Existing Tax Anti-Abuse Rules to Digital Assets Act (H.R. 9172) intends to extend wash sale and constructive sale rules to the digital asset sector. These regulations currently prevent investors in traditional markets from claiming tax deductions on losses while immediately repurchasing the same securities. The US Treasury estimates this change could generate $23,5 billion in revenue over a decade.
