Crypto tax proposals weighed ahead of Tuesday House hearing

The US House Ways and Means Committee circulated seven discussion draft bills ahead of a Tuesday hearing on digital asset taxation. The proposals address de minimis reporting exceptions for small crypto transactions, stablecoin activity, and tax clarity for mining and staking. The Digital Chamber CEO Cody Carbone stated that digital asset tax clarity is needed or activity will never fully onshore. Any bill will require bipartisan support in Congress.