The House Ways and Means Committee advanced H.R. 10357, the Digital Asset Tax Certainty Act, on September 16 by a bipartisan 38-5 vote, clearing a key procedural hurdle before possible full House consideration.
The bill would create a comprehensive federal tax framework for digital assets, addressing transaction reporting, wash sales, constructive sales, mining, staking, charitable donations, and parity with traditional financial assets. It also directs the Treasury Department to establish a voluntary disclosure program.
In a statement, the Crypto Council for Innovation praised the committee's move as a historic step. CCI Chief Strategy Officer and Head of US Policy Alison Mangiero said the legislation provides greater certainty for stablecoins and reduces compliance burdens for routine blockchain activity. She also welcomed a provision directing Treasury to develop guidance for reorganizing foreign DAO foundations into domestic corporations through a temporary safe harbor.
Mangiero added that several provisions could be refined, including timing of income recognition for staking and mining rewards and broader de minimis relief for everyday transactions.
KPMG's summary indicates the proposal would align many digital-asset tax rules with those for stocks and securities, extend wash-sale and constructive-sale rules to digital assets, add de minimis exemptions, and expand broker reporting requirements. The Joint Committee on Taxation published a revenue-effect analysis on September 14 ahead of the markup.
The bill does not yet enact changes; it must progress further through the full House legislative process.
