The proposals address gaps in how mining, staking, and trading of cryptocurrencies are taxed, whilst lawmakers emphasised the need for compliance rules that provide clarity and stability as digital assets become more integrated into the economy.
The US House Ways and Means Committee held a hearing on 9 June 2026 to explore new tax rules for digital assets, advancing eight bills and discussion drafts that aim to simplify compliance and establish clearer rules for activities like cryptocurrency mining and staking.
The proposals address longstanding gaps in how the tax code treats digital assets compared to traditional investments.
Committee Chairman Jason Smith (R-Mo.) emphasised the importance of creating workable rules, noting that roughly 25% of Americans now own cryptocurrency. He identified three core problems: transactions like mining and staking that don’t fit existing tax frameworks; digital assets lacking comparable tax benefits; and burdensome compliance requirements for owners. Ranking Member Richard Neal (D-Mass.) acknowledged the topic’s complexity and expressed support for certain provisions, but cautioned against tilting the tax code in favour of digital assets, warning that “it’s much easier to put something in the tax code than it is to take it out.”
Key proposals under review
The hearing examined multiple legislative proposals, including H.R. 9176 addressing digital asset trading, H.R. 9172 covering wash sale and constructive sale rules, and a discussion draft on US-sourced gains. The committee also discussed a de minimis exception for small gains, revised mining and staking rules, charitable contribution treatment, and voluntary disclosure mechanisms. No formal markup has yet been scheduled.
Wider congressional context
The hearing follows the Senate Banking Committee’s May 2026 passage of the CLARITY Act (H.R. 3633), which establishes market structure rules for digital assets. Lawmakers from both parties stressed the need for tax rules that provide clarity and certainty whilst recognising that digital assets will remain integral to the economy.
