Overview
- The House Ways and Means Committee circulated seven discussion drafts and scheduled a June 9 hearing to begin formal debate on those measures.
- One draft would create a $10 de minimis exemption for network transaction fees, allowing up to 5,000 exempt transactions per year to cut tiny reporting requirements.
- A separate bill would change the timing or exempt rewards from staking and mining so taxpayers would not always report those receipts as immediate taxable income.
- Other drafts would give compliant stablecoins special tax treatment to function more like cash, extend wash-sale and constructive-sale rules to crypto, and offer a two-year voluntary disclosure amnesty for past reporting failures.
- The texts are discussion-stage, drafted with input from Treasury, Commerce and the White House, and they will be refined at the committee hearing before any markup or votes so final rules and thresholds remain unsettled.