Congress wants to make crypto easier to use and still collect $500 million more in taxes

According to CryptoSlate, the House Ways and Means Committee is scheduled to consider H.R. 10357, known as the Digital Asset Tax Certainty Act. The proposed legislation seeks to pair relief for stablecoin payments and small transaction fees with expanded trading rules. The Joint Committee on Taxation estimates the bill would increase federal receipts by approximately $500 million net from fiscal 2027 through 2036.

The package aims to reduce tax friction for routine cryptocurrency activity, such as qualifying US dollar stablecoin payments and network transaction fees of $10 or less. Conversely, the legislation introduces revenue-generating measures by extending wash sale restrictions to traded digital assets, excluding qualifying stablecoins, and expanding access to mark-to-market accounting for dealers and traders. Additional provisions address digital-asset lending, investment trusts staking assets, and the establishment of a Digital Asset Voluntary Disclosure Program for taxpayers with past reporting issues. CryptoSlate notes that the upcoming markup serves as the first legislative test for the compromises within the proposal.