{"id":13365,"date":"2026-09-17T08:22:41","date_gmt":"2026-09-17T08:22:41","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=13365"},"modified":"2026-09-17T08:22:41","modified_gmt":"2026-09-17T08:22:41","slug":"house-panel-advances-crypto-tax-bill-with-bipartisan-support","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=13365","title":{"rendered":"House Panel Advances Crypto Tax Bill with Bipartisan Support"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_b4496e7b415f8eb4e0fb2053d9b2e399\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The House Ways and Means Committee advanced a crypto tax bill in a 38-5 vote.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bill would introduce new tax rules for digital assets, including mining, staking and crypto transactions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It would also extend wash-sale restrictions that currently apply to stocks to digital assets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Industry figures have raised concerns about the bill\u2019s treatment of newly created crypto rewards and its impact on traders.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Unlike the CLARITY Act, where ethics concerns prevented the bill from advancing, the US has made some progress when it comes to crypto tax legislation. The House Ways and Means Committee has voted 38-5 to advance the bill, sending it to the House.<\/p>\n<p class=\"wp-block-paragraph\">The committee\u2019s chair, Jason Smith (R-Mo.), called the vote a \u201chistoric moment\u201d, adding that after a year of cooperation, Democrats and Republicans \u201chave come together to establish the first-ever tax framework for digital assets\u201d.<\/p>\n<p class=\"wp-block-paragraph\">According to The Wall Street Journal, the proposal would exempt small transaction fees tied to digital asset sales from taxation and make it simpler to use crypto and stablecoins for everyday purchases. It would also classify mining and staking income as ordinary income rather than the more favourably taxed capital gains, though it leaves open when that income should be recognised for tax purposes.<\/p>\n<p class=\"wp-block-paragraph\">The bill would also extend the same anti-wash-sale restrictions that apply to stocks to digital assets, limiting a taxpayer\u2019s ability to claim a loss if they quickly repurchase a substantially similar asset.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Read also:<\/strong><strong> <\/strong><strong>Senate Crypto Bill Stalls as Warren Calls for Tougher Safeguards Ahead of Midterms<\/strong><\/p>\n<h2 id=\"h-industry-pushes-back\" class=\"wp-block-heading\">Industry Pushes Back<\/h2>\n<p class=\"wp-block-paragraph\">Not everyone in the industry agrees with the bill. Crypto tax service <em>CryptoTaxSucks<\/em> said the bill would \u201cscrew over every onchain trader\u201d, particularly criticising the wash-sale rule.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"\/>\n<p class=\"wp-block-paragraph\">Jason Somensatto, director of policy at Coin Center, wrote in a blog post that while he supports much of the bill, including provisions such as continued progress towards a simplified accounting method that would ease the burden on everyday users, he wants the block-reward language either removed or rewritten.<\/p>\n<p class=\"wp-block-paragraph\">He argues that the bill shouldn\u2019t implicitly settle a legal question that is still being litigated. Instead, he says, it should remain neutral, as he believes was originally intended.<\/p>\n<div id=\"blockquote-block_f96b7d43cc38370217c71a0a7fd46686\" class=\"blockquote-container variant-personal\">\n<div class=\"blockquote-text\">\n<p>If this language becomes law, it could be seen as congressional endorsement of the IRS\u2019s mistaken position that newly created rewards are income.<\/p>\n<\/div>\n<div class=\"blockquote-attribution\">\n        <img decoding=\"async\" class=\"author-image lazyload\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/09\/17145528\/Jason-Somensatto-director-of-policy-at-Coin-Center.jpg\"\/><img decoding=\"async\" src=\"https:\/\/cdn.cryptonews.com.au\/2026\/09\/17145528\/Jason-Somensatto-director-of-policy-at-Coin-Center.jpg\" class=\"author-image\" data-eio=\"l\"\/>        Jason Somensatto, director of policy at Coin Center    <\/div>\n<\/div>\n<p class=\"wp-block-paragraph\"><strong>Read also:<\/strong><strong> <\/strong><strong>BIS Finds Bitcoin Transfer Estimates Can Vary Sixfold Depending on Measurement Method<\/strong><\/p>\n<\/p><\/div>\n<p>Cryptocurrency Tax,Law#House #Panel #Advances #Crypto #Tax #Bill #Bipartisan #Support1789633361<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House Ways and Means Committee advanced a crypto tax bill in a 38-5 vote. The bill would introduce new tax rules for digital assets, including mining, staking and crypto transactions. It would also extend wash-sale restrictions that currently apply to stocks to digital assets. \u00a0Industry figures have raised concerns about the bill\u2019s treatment of<\/p>\n","protected":false},"author":1,"featured_media":13366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1007,749,1636,62,1464,3352,155,418],"class_list":["post-13365","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-advances","tag-bill","tag-bipartisan","tag-crypto","tag-house","tag-panel","tag-support","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>House Panel Advances Crypto Tax Bill with Bipartisan Support - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=13365\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Panel Advances Crypto Tax Bill with Bipartisan Support\" \/>\n<meta property=\"og:description\" content=\"The House Ways and Means Committee advanced a crypto tax bill in a 38-5 vote. 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