The House Ways and Means Committee has released seven draft bills ahead of this week’s hearing on cryptocurrency tax policy, offering a preview of forthcoming regulatory proposals.
The narrative outlines the committee’s involvement and the significance of the draft legislation.
The House Ways and Means Committee, which oversees tax legislation, will lead the drafting of crypto‑specific tax measures and guide them through the legislative process, even though similar draft bills have been introduced previously.
The discussion of these draft bills in a hearing marks a notable step forward and suggests that the provisions may become law in the near future, either as part of a dedicated tax package or within a broader legislative effort.
Key Elements
Staking and mining activities, de minimis thresholds, and stablecoin transactions are all addressed in the draft bills released late Thursday by the House Ways and Means Committee, along with several other topics.
While it remains uncertain how quickly these proposals will become law in the 2026 calendar year — given the House’s and Senate’s competing priorities and the need for floor time — the introduction of the draft bills and the scheduled hearing represent important milestones.
Alison Mangiero, head of industry affairs and U.S. policy at the Crypto Council for Innovation, described the set of bills as an important first step.
“The Ways and Means Committee’s release of seven bills and the scheduling of a full‑committee hearing on June 9 is significant procedurally,” Mangiero said. “The format — members reviewing specific legislation with expert witnesses before any markup — reflects a focused and structured approach to this critical work.”
Mangiero described the bills as the third leg of a three‑part framework for crypto legislation, alongside the stablecoin‑focused GENIUS Act and the market‑structure‑focused Clarity Act, which remains deeply engaged in the legislative process.
“Several provisions in this package reflect long‑standing priorities: fair tax treatment for GENIUS‑compliant stablecoins enabling them to serve as payment instruments; a de minimis exemption for routine network transaction fees, a relief we have long sought and hope to expand; parity provisions that extend securities‑lending, mark‑to‑market, and charitable‑deduction treatment to widely traded digital assets; and clear rules governing the taxation of mining and staking rewards,” she said.
In related news, the Financial Accounting Standards Board’s Investor Advisory Committee convened last month to discuss whether stablecoins should be classified as cash equivalents.
The committee maintains that a high threshold is required to deem something a cash equivalent, according to a meeting summary shared with CoinDesk, and members have not yet agreed on the specific information that would be most useful for investors.
Potential disclosure requirements include details on reserve structure, the type of stablecoin, the identity of the issuer, where funds are held, disaggregated data on cash equivalents and currency risk, and whether the information was released on an interim basis.
The committee is scheduled to meet again in November.
Scheduled Hearing
- 18:00 UTC (2:00 p.m. ET): The House Ways and Means Committee will hold a hearing on crypto tax policy at 18:00 UTC (2:00 p.m. ET).
