House Republicans have released seven crypto tax bills set for discussion at a Tuesday hearing of the Ways and Means Committee. The proposals include exempting staking and mining rewards from taxable income, creating a $10 de minimis exemption for gas fees, and offering an IRS safe harbor for past non-reporting. However, the bills do not include a broader exemption for everyday crypto purchases, a key industry goal. The legislation marks the first time congressional leadership has advanced tax-focused crypto bills, following months of industry engagement.

Key facts

• Seven crypto tax bills advanced by House Republicans for Tuesday hearing
• Bill would exempt staking and mining rewards from taxable income
• $10 de minimis exemption for gas fees, up to 5,000 transactions yearly
• No broader exemption for everyday crypto purchases like stablecoins
• Includes amnesty program for past crypto tax non-reporting