House panel passes first federal crypto tax framework

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The House Ways and Means Committee has advanced legislation setting out federal tax rules for digital assets, voting 38-5 in favour of the bill.

The Digital Asset Tax Certainty Act would exempt qualifying crypto network and transaction fees of $10 or less from capital gains calculations from December 2027.

It would also create a voluntary disclosure programme for taxpayers to correct previous returns. Mining and staking rewards would remain taxable as ordinary income.