The House Ways and Means Committee said it advanced H.R. 10357, the Digital Asset Tax Certainty Act, on September 16 by a 38-5 vote.
The bill’s proposed framework covers transaction reporting, trading-related tax treatment, mining, staking and charitable donations.
It now moves toward consideration by the full House, leaving the tax rules unresolved at this stage.
H.R. 10357 clears Ways and Means
Ways and Means is the House committee responsible for tax legislation, making its approval a necessary step for a measure seeking to reshape federal treatment of digital assets. The 38-5 result was the committee action on the bill; full House consideration remains the next identified legislative stage.
H.R. 10357 is titled the Digital Asset Tax Certainty Act. The committee said the legislation would establish rules addressing reporting, wash sales, constructive sales, mining, staking, charitable donations and parity with traditional financial assets.
Digital Asset Tax Certainty Act combines tax parity with new compliance rules
According to KPMG’s summary, the proposal would align many digital-asset tax rules with those for stocks and securities while adding de minimis exemptions, applying wash-sale and constructive-sale rules to digital assets, and expanding broker reporting requirements. The committee’s account also identifies reporting, constructive sales, mining and staking among the covered areas.
The available materials do not specify the de minimis exemptions’ thresholds or conditions, or set out the bill’s full statutory text and implementation timetable.
JCT analysis preceded markup
Before the committee considered the bill, Congress’s official tax scorekeeper published a legislative description and revenue-effect analysis for H.R. 10357 on September 14. The Joint Committee on Taxation publication gave lawmakers an official tax analysis ahead of the September 16 markup.
The measure’s advance does not itself enact any of the proposed reporting, wash-sale, constructive-sale or de minimis provisions. They would require further progress through the House legislative process.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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