The House Ways and Means Committee advanced eight bills and discussion drafts on digital asset taxation during a June 9, 2026 legislative hearing, marking the committee’s first major legislative push on cryptocurrency tax rules as Congress debates a third reconciliation package.
The committee unveiled six bipartisan bills addressing specific gaps in how digital assets are taxed. H.R. 9178, the Less Tax Paperwork for Digital Asset Owners Act, streamlines reporting by excluding gains or losses on digital assets used to pay network fees and on regulated U.S. dollar stablecoins. H.R. 9175, the Tax Clarity for Mining and Staking Act, clarifies that newly minted digital assets from mining or staking are ordinary income but allows taxpayers to elect to treat them similarly to self-created property.
Three additional bills provide parity with traditional financial assets. H.R. 9173, the Charitable Deductions for Digital Asset Donations Act, exempts digital asset charitable donations from appraisal requirements if the property meets criteria for reliable market pricing. H.R. 9176, the Providing Analogous Rules for Digital Assets (PAR) Act, allows digital assets to qualify for two existing tax code safe harbors—one for foreign investment and one for asset lending—and enables dealers to use mark-to-market accounting. H.R. 9174, the Digital Assets Voluntary Disclosure Program Act, directs the Treasury to establish a one-time voluntary disclosure program with reduced penalties for taxpayers who underpaid taxes on digital assets due to uncertainty.
H.R. 9172, the Applying Existing Tax Anti-Abuse Rules to Digital Assets Act, extends wash sale and constructive sale rules—which already apply to traditional financial assets—to digital assets to close tax loopholes. Democrats also circulated a discussion draft, the End Digital Assets Tax Shelter Act, targeting U.S. residents who use Puerto Rico residency rules to avoid taxes on digital assets, and proposed an amendment limiting deferral elections on mining and staking to five years and charitable deduction claims to the amount a charity receives when selling the asset.
Ways and Means Committee Chairman Jason Smith (MO-08) stated that the legislation addresses key gaps in the tax code and that “the status quo of unclear tax rules is untenable” with over 60 million Americans owning cryptocurrency. Smith emphasized that the United States risks losing its position as the digital asset capital of the world if other countries with clearer tax frameworks gain competitive advantage.
The push follows months of bipartisan work on digital asset taxation. In May 2026, House tax writers unveiled the Digital Asset PARITY Act, a separate bipartisan proposal aimed at modernizing tax treatment. The June 9 hearing examined whether the committee’s bills should move forward independently or as part of a broader reconciliation package. According to Thomson Reuters tax analysis, the crypto tax bill can advance without waiting for market-structure legislation like the CLARITY Act, which addresses regulatory oversight of digital asset trading.
The legislative effort reflects growing pressure to create certainty for digital asset users and businesses. Current tax rules impose excessive reporting burdens on routine transactions and leave ambiguous guidance on how to treat staking rewards and other cryptocurrency-specific activities, creating compliance challenges for both taxpayers and the IRS.
Sources
- House Ways and Means Committee — Official statement and bill descriptions from June 9, 2026 legislative hearing on digital asset taxation
- Thomson Reuters Tax and Accounting — Analysis of how crypto tax bills can move independently of market-structure legislation
- EY Tax News — Confirmation of June 8–9, 2026 hearing and reconciliation package context
