The U.S. House Ways and Means Committee has circulated seven draft bills addressing crypto tax issues ahead of a June 9 hearing. The proposals cover de minimis transactions, stablecoin activity, mining and staking taxation, wash sale rules, and charitable donation appraisals. Key provisions include taxing mining and staking rewards only upon sale, allowing taxpayers to choose when to recognize income. Industry groups like the Crypto Council for Innovation and the Digital Chamber support the effort, noting it enhances tax clarity. This bipartisan push comes late in the congressional session but may attach to must-pass bills later this year.

Key facts

• Seven crypto tax bills circulated by House Ways and Means Committee for June 9 hearing.
• Proposals ease tax burdens for small transactions, mining, and staking rewards.
• Bill allows taxpayers to choose when to recognize income from mining and staking.
• Industry groups praise bipartisan effort for providing tax clarity.
• Late-session push may see provisions attached to must-pass legislation.
• Breaking: North Korean hackers stole $1.5B from Bybit in the largest exchange hack ever.