Ways and Means approves crypto tax bill on bipartisan vote

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1. 2h ago

   House Ways and Means Committee Approves Digital Asset Tax Bill

   The House Ways and Means Committee has approved a digital asset tax bill on a bipartisan vote. This marks the first federal crypto tax framework to advance in the House, coming just a day after the Senate stumbled on the Clarity Act. Lawmakers advanced the digital asset package alongside measures concerning EFIN and gambling taxes, and Alzheimer's provisions. While supporters and certain congressional members backed the package, other lawmakers and outside groups voiced opposition to the legislation over policy concerns and industry ties.

   Why it matters

   The committee action follows a setback for the Clarity Act in the Senate. The legislative push represents a major step for federal taxation of digital assets, though it faces division among lawmakers and advocacy coalitions. Observers note that Congress may revisit related crypto clarity measures early next year.

   What is confirmed

   • The House Ways and Means Committee approved a digital asset tax bill on a bipartisan vote.
   • The committee advanced digital asset, EFIN, and gambling tax bills during its markup.
   • The vote occurred shortly after the Senate experienced a setback with the Clarity Act.

   Still unconfirmed

   • Congress will revisit the Clarity Act early next year.
   • Senate movement on crypto tax legislation remains unlikely.

   What to watch next

   • Further floor action or debate on the digital asset tax bill in the House.
   • Potential Senate engagement or movement regarding crypto tax and clarity legislation.
   Sources used for this update (16)

   1. Politico — Ways and Means approves crypto tax bill on bipartisan vote
   2. The Tax Law Center — What’s new in the House Ways & Means bill on taxing digital assets?
   3. Accounting Today — House committee advances digital asset, EFIN and gambling tax bills
   4. Washington Examiner — Taxing unsold crypto isn’t policy — it’s economic sabotage
   5. Legis1 — House Markup Weighs Crypto Tax Issues and Alzheimer’s Measures
   6. CoinDesk — U.S. House's tax committee advances crypto tax bill in wake of Clarity Act loss
   7. The Block — House panel approves first federal crypto tax framework, one day after Senate's Clarity Act stumbles
   8. ntu.org — Congress Must Continue Work on Staking and Mining Cryptocurrency Taxes
   9. Decrypt — Crypto Tax Bill Clears House Committee After Clarity Act Setback
   10. Quiver Quantitative — Press Release: Steven Horsford Helps Advance Bipartisan Digital Asset Tax Package in House Committee
   11. Americans For Tax Fairness — Coalition Letter Opposing H.R. 10357, the “Digital Asset Tax Certainty Act”
   12. PYMNTS.com — House Committee Advances First-Ever Crypto Tax Bill
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