A 114-page bill released by House Ways and Means Committee Chairman Jason Smith would exempt network or transaction fees below $10 from taxation, with a committee markup scheduled for 10 a.m. on Sept. 16. The proposal would not apply to users who made more than 5,000 transfers in the previous year. A separate companion measure would bring digital assets under wash sale and constructive sale rules while excluding qualified dollar stablecoins, a change projected to raise $2.074 billion in revenue over fiscal years 2026 through 2036. The companion bill also would let miners and stakers defer recognition of income from newly created tokens until sale, at an estimated 10-year fiscal cost of $2.956 billion. According to Bitcoin.com News, Republican members of the committee are considering removing those provisions or limiting the deferral period to five years.
House Ways and Means Committee Chairman Jason Smith has released a 114-page Digital Asset Tax Clarity Act, H.R. 10357, that would exempt network or transaction fees below $10 from taxation. The committee is set to consider the bill at 10 a.m. on Sept. 16.
Under the proposal, users who made more than 5,000 transfers in the previous year would not qualify for that fee exemption.
A separate companion bill would apply wash sale and constructive sale rules to digital assets, while excluding qualified dollar stablecoins. The measure is projected to raise $2.074 billion in revenue across fiscal years 2026 through 2036.
The companion proposal also would allow miners and stakers to defer recognition of income from newly created tokens until the assets are sold. That provision is estimated to carry a 10-year fiscal cost of $2.956 billion.
According to Bitcoin.com News, Republican members of the committee are weighing whether to remove the related provisions or cap the deferral period at five years.
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