CryptoSlate
The House Ways and Means Committee is scheduled to consider H.R. 10357, the Digital Asset Tax Certainty Act, on Sept. 16. The Joint Committee on Taxation estimates the package would increase federal receipts by about $500 million net from fiscal 2027 through 2036. It would ease taxes on qualifying stablecoin payments and small transaction fees while tightening rules for crypto trading losses and dealer accounting.
Why it matters
The bill targets a longstanding mismatch between routine crypto use and tax administration. Qualifying US dollar stablecoins would generally avoid gains and losses caused by minor movements around the $1 peg, while digital-asset network and transaction fees of no more than $10 would be disregarded for tax purposes. The fee provision would apply to dispositions after Dec. 31, 2027, and is estimated to reduce federal receipts by $2.365 billion through 2036.
The proposal does not create a general $10 tax exemption for Bitcoin purchases or other crypto spending. Most purchases would remain subject to existing rules that treat digital assets as property. The stablecoin relief would also exclude traders, brokers, dealers and certain high-volume users.
Market impact
Lawmakers would recover revenue by extending wash-sale restrictions to traded digital assets other than qualifying US dollar stablecoins, including certain wrapped and tokenized versions. The JCT estimates that change would raise $1.707 billion, while expanded mark-to-market access for qualifying digital-asset dealers and traders would raise another $2.332 billion. Together, those provisions are expected to generate more than $4 billion.
The package would also clarify qualifying digital-asset lending, protect certain investment trusts from losing status solely because they stake assets, and create a voluntary disclosure program for past reporting problems. Individual miners and stakers would still generally recognize validation income as ordinary income when they obtain control. Committee members can amend the bill before a vote, and passage would still require House, Senate and presidential action.
Frequently asked questions
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What is H.R. 10357 expected to do to federal tax receipts?
The Joint Committee on Taxation estimates that H.R. 10357 would increase federal receipts by about $500 million net from fiscal 2027 through 2036.
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How would the bill treat qualifying US dollar stablecoins?
Qualifying US dollar stablecoins would generally avoid gains and losses caused by minor movements around the $1 peg. Traders, brokers, dealers and certain high-volume users would be excluded.
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Does the proposal create a $10 tax exemption for Bitcoin purchases?
No. The proposed $10 exclusion applies to certain network and transaction fees, not general purchases made with Bitcoin or other cryptocurrencies.
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How much revenue would the crypto wash-sale change raise?
The Joint Committee on Taxation estimates that extending wash-sale restrictions to traded digital assets would increase federal receipts by $1.707 billion through 2036.
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What happens after the Ways and Means Committee markup?
Committee members can amend the measure before voting on whether to advance it. Approval would still require consideration by the House and Senate, followed by presidential action.
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