stable coins
By Jean-Luc Maracon
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What the Bill Actually Does. The most immediate relief for everyday users: gains or losses on network or transaction fees of…
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Wash-Sale Rules and Past Disclosures. Wash-sale rules are coming to crypto. Under the bill, investors who sell a digital asset at a loss…
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Broader Context and What's Still Blocking It. The timing here isn't random. The Senate recently failed to advance the Clarity Act, a separate…
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The House Ways and Means Committee approved H.R. 10357, the Digital Asset Tax Certainty Act, pushing it toward a full House vote.
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Chairman Rep. Jason Smith called it the product of a year-long bipartisan effort. The goal, per Smith, is keeping the U.S.
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The most immediate relief for everyday users: gains or losses on network or transaction fees of $10 or less won't be taxed, starting in 2028. Small number, big deal.
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Beyond that, the legislation simplifies tax calculations for dollar stablecoins traded near redemption value.
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Mining and staking rewards get classified as ordinary income. That's not a surprise to most tax attorneys who've been advising clients that way anyway, but getting it written…
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Investment trusts also get a carve-out. Under the bill, certain trusts can stake assets without losing their tax-advantaged status.
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One thing the bill dropped: an earlier proposal that would have let taxpayers defer recognizing some mining and staking rewards. That's gone from the current version.
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Read also: Digital Asset Market Clarity Acts Survival in Doubt as Senate Vote Approaches
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Wash-sale rules are coming to crypto. Under the bill, investors who sell a digital asset at a loss can't immediately buy back a similar asset within 30 days and still claim that…
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There's also a new disclosure program tucked into the bill. Eligible taxpayers can use it to correct past tax returns.
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The wash-sale addition and the disclosure program together send a pretty clear message: the IRS wants compliance, and Congress is trying to build the on-ramp for it.
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The timing here isn't random. The Senate recently failed to advance the Clarity Act, a separate piece of legislation focused on crypto market oversight — basically who regulates…
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