Overview
- The House Ways and Means Committee released the 114‑page Digital Asset Tax Certainty Act, which was published Monday, Sept. 14, and the committee scheduled a markup for Sept. 16 where members can amend and vote on the measure.
- The bill creates a $10 de minimis exemption that ignores qualifying blockchain network and transaction fees under $10 for most users while excluding accounts with more than 5,000 transfers in the prior year.
- It would extend federal wash‑sale and constructive‑sale rules to traded digital assets to curb immediate buybacks of losses, but it exempts qualifying U.S. dollar stablecoins and sets special basis rules tied to their $1 redemption value.
- Mining and staking rewards are generally treated as ordinary income when received, a contentious change that removes or limits an industry‑backed deferral proposal and will require validators and miners to value rewards at receipt.
- The package directs Treasury to create a Digital Asset Voluntary Disclosure Program, carries a Joint Committee on Taxation net estimate of roughly $500 million from 2027–2036, and must still clear committee markup, the full House, the Senate, and the President to become law.