Crypto taxes are changing in the US! The critical bill is on the table today.
A comprehensive tax regulation on cryptocurrency transactions will be considered today in the U.S. House of Representatives. The bill introduces new rules in many areas, from the $10 transaction fee exemption to stablecoins, staking income, and the deduction of crypto losses from taxes.
The U.S. House of Representatives Revenue Committee will bring the Digital Asset Tax Certainty Act, which aims to reshape tax rules for cryptocurrency transactions, to the floor today. The roughly 114‑page bill foresees new regulations in many areas, from transaction fees to stablecoins, and from staking and mining income to crypto‑loss rules.
10‑Dollar Exception to Crypto Transaction Fees
Bill H.R. 10357 introduces a $10 exception for certain network and transaction fees. For fees that meet the conditions and do not exceed $10, users will not be required to keep a separate gain or loss account.
However, this provision does not cover general goods and services transactions conducted with crypto. The exception will be limited to the appropriate transaction fees defined in the bill.
Special Calculation for Stablecoin Transactions
A different tax method is being introduced for small price fluctuations in suitable stablecoins that aim to preserve their value against the dollar.
If the specified conditions are met, the stablecoin's repayment value may be used as a basis for calculating tax costs. An accounting option that will simplify annual calculations for widely traded digital assets is also foreseen.
Both of these regulations are planned to take effect in 2028.
Mining and Staking Revenues Are Being Regulated
According to the draft, income derived from mining and staking activities will generally be taxed as ordinary income.
There are also provisions that will facilitate certain investment partnerships from staking the digital assets they hold. The earlier proposal to postpone tax on newly issued digital assets was not included in the final draft.
30-Day Rule for Crypto Losses
One of the draft's noteworthy items is a regulation concerning the deduction of losses from tax.
Like the 30‑day rule in traditional securities, a loss arising when an investor repurchases the same or substantially similar crypto asset within 30 days before or after selling it could be restricted from deduction.
Voluntary Disclosure Program for Past Transactions
The text also assigns the Ministry of Finance the task of establishing a voluntary disclosure program within 12 months after the law comes into force.
Under the program, eligible taxpayers who previously underreported crypto transactions are intended to allow them to correct their records by paying taxes, interest, and penalties.
Committee Consultation Does Not Constitute Legislation
The discussion in the Revenue Committee does not mean that the draft has become law. The text must first pass through the committee, then be adopted by the House of Representatives and the Senate. In the final stage, the president's approval is required.
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