House Ways and Means Circulates Seven Crypto Tax Drafts Ahead of June 9 Hearing, Including Mining Relief and Wash-Sale Rules

U.S. House Ways and Means Committee is circulating seven draft crypto tax bills ahead of a June 9 hearing. The drafts address de minimis transactions, stablecoin activity, network fees, taxation of assets acquired through crypto mining, melding digital assets with existing securities tax treatment, applying wash sale rules to crypto, and removing an appraisal requirement for digital asset donations to charity.

One bill targets double taxation of mining and staking rewards by addressing taxation both at acquisition and at sale. " Senator Cynthia Lummis, a Wyoming Republican who leads a digital assets subcommittee in the Senate Banking Committee, has sought and failed multiple times to advance similar crypto tax ideas, including an unsuccessful attempt last year to attach them to the Republican's One Big Beautiful Bill spending package.

U.S. Policy focus of the crypto industry, and Washington lobbyists have routinely said that crypto tax policy was next in line after that measure. The arrival of the bipartisan tax drafts comes late in the congressional session, though several must-pass bills this year could serve as vehicles for additional provisions.