The Six Crypto Tax Bills That Could Change How Americans Pay Taxes on Bitcoin

TLDR

• The House Ways and Means Committee held a hearing on six separate crypto tax bills on June 9
• White House crypto advisor Patrick Witt backed the bills, calling for “parity for tax”
• Democrats raised concerns about potential abuse of mining and staking tax deferral rules
• Bills cover staking rewards, mining income, small payments, wash sales, and donations
• A de minimis exemption would let Americans make small crypto payments without tax paperwork

The U.S. House Ways and Means Committee reviewed six crypto tax proposals at a hearing on June 9. The bills were introduced separately, not as one large package. That approach was intentional — if some bills face pushback, others can still move forward.

The six bills cover a wide range of issues. They include rules for mining and staking income, small transaction exemptions, charitable donation deductions, wash-sale rules, and a voluntary disclosure program for past reporting issues.

Committee Chairman Jason Smith said the bills aim to fix gaps in the current tax code. He said digital assets should have the same treatment as traditional financial assets where possible.

Democrats Flag Abuse Risks in Mining Deferral Proposal

Not everyone at the hearing was on board. Democrats on the committee raised pointed questions, particularly about the Tax Clarity for Mining and Staking Act.

That bill would let miners and stakers defer taxes on newly minted coins until they sell them. Currently, those coins are taxed when received and again when sold.

Mike Kaercher, deputy director of the Tax Law Center at NYU Law, testified that the deferral option could be abused. He said some taxpayers might use certain business structures to permanently avoid taxes on mining rewards.

What the Bills Would Change

The Less Tax Paperwork for Digital Asset Owners Act would create a de minimis exemption. Small crypto transactions with minimal gains would no longer require tax reporting.

Chairman Smith said Americans should be able to pay with a stablecoin without generating a pile of tax paperwork. That change could make crypto more usable for everyday purchases.

Coinbase’s VP of tax, Lawrence Zlatkin, said the current rules create confusion for users and unnecessary burdens for the IRS. The IRS has already been dealing with staff cuts and a surge in crypto filings under new reporting rules.

The path forward for these bills is uncertain. Congress is already managing a crowded agenda, including the separate Digital Asset Market Clarity Act moving through the Senate. Both chambers would need to pass any bill before it becomes law.

Senator Cynthia Lummis has pushed for similar crypto tax legislation in the Senate, but has not succeeded so far. The current congressional session ends at the close of 2026.

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