U.S. House Committee Holds Hearing on Seven Digital Asset Tax Reform Bills
On June 9, 2026, the House Ways and Means Committee gathered to discuss seven bills that could overhaul digital asset taxation, marking the most substantial shift in over a decade. Chairman Jason Smith emphasized the need for clear regulations to maintain the U.S. lead in cryptocurrency during his June 2 announcement. The proposals include a de minimis exemption for gas fees under $10 (capped at 5,000 transactions a year), tax deferrals on mining and staking rewards until sold, and a 30-day wash sale rule for harvesting crypto losses. This follows the bipartisan Digital Asset PARITY Act introduced on May 19 by Reps. Max Miller and Steven Horsford. Concerns were raised about potential tax avoidance strategies, with hopes for a bill to pass before the August recess.
Key facts
- House Ways and Means Committee held a hearing on June 9, 2026, on seven draft bills for digital asset tax reform.
- Chairman Jason Smith announced the hearing on June 2, 2026.
- The de minimis exemption in the 'Less Tax Paperwork for Digital Asset Owners Act' exempts gas fees under $10, capped at 5,000 transactions per year.
- Senator Cynthia Lummis proposed a broader $300 per-transaction threshold with a $5,000 annual cap.
- The bills propose deferring taxes on mining and staking rewards until sale.
- The PARITY Act would impose a 30-day wash sale restriction on crypto loss harvesting.
- The Digital Asset PARITY Act was introduced on May 19 by Reps. Max Miller and Steven Horsford.
- Rep. Miller believes a bill can pass before the August 2026 recess.
Entities
Institutions
- House Ways and Means Committee
- U.S. House of Representatives
- Blockchain Association
- Crypto Council for Innovation
- NYU Law Tax Law Center
- Anchorage Digital
Locations
- United States
- Ohio
- Nevada