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<p>House lawmakers have advanced a major crypto tax proposal as <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">Bitcoin</a> trades near $76,370 after a sharp market setback. The Ways and Means Committee approved the Digital Asset Tax Certainty Act by 38-5. Meanwhile, the Senate’s separate CLARITY Act remains stalled after failing to clear a procedural vote.</p>
<h2 id="house-advances-crypto-tax-bill-as-senate-clarity-act-stalls">House Advances Crypto Tax Bill as Senate CLARITY Act Stalls</h2>
<p>The Ways and Means Committee approved H.R. 10357 after more than a year of bipartisan negotiations. The measure would create specific federal tax rules for digital assets and simplify several existing requirements. It now moves toward consideration by the full House, although further approvals remain necessary.</p>
<p>The proposal would remove gain or loss calculations for qualifying network and transaction fees of $10 or less. However, the exemption would begin in 2028 and would not cover ordinary crypto purchases. The bill would also establish simpler accounting treatment for qualifying dollar-pegged stablecoin transactions.</p>
<p>The legislation would maintain wash-sale and constructive-sale provisions for digital assets. It would also establish broker reporting requirements and a voluntary disclosure program for eligible taxpayers. Therefore, the measure combines targeted tax relief with additional compliance requirements.</p>
<h2 id="bitcoin-holds-above-recent-lows">Bitcoin Holds Above Recent Lows</h2>
<p>Bitcoin traded around $76,370 on Sept. 17 after falling below $75,000 following the Senate’s CLARITY Act vote. The decline followed a 49-50 procedural vote that failed to reach the 60 votes required for cloture. <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/ethereum/">Ethereum</a> also weakened during the market reaction before trading around $2,437 on Sept. 17.</p>
<p>The Senate setback added pressure to a market already facing tighter financial conditions. The supplied report records more than $670 million in liquidations across nearly 120,000 accounts after the decline. However, the House tax vote created a separate legislative path for digital assets.</p>
<p>The proposed tax rules could affect everyday crypto activity more directly than broader market-structure legislation. Small qualifying transaction fees would receive simpler treatment, while stablecoin transactions would gain specific tax rules. At the same time, wash-sale provisions would limit certain loss-deduction strategies involving digital assets.</p>
<h2 id="ethereum-and-broader-crypto-tax-rules">Ethereum and Broader Crypto Tax Rules</h2>
<p><a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/ethereum/">Ethereum</a> traded near $2,437 on Sept. 17, according to current market data. The asset closed the previous session near $2,416, while its Sept. 17 range extended from about $2,414 to $2,445. These levels show that Ethereum also faced substantial volatility during the legislative developments.</p>
<p>The tax bill would classify mining and staking rewards as ordinary income under its framework. It would also allow certain investment trusts to stake digital assets without losing their tax status solely because they stake. However, an earlier proposal for broader tax deferral on mining and staking rewards did not remain in the measure.</p>
<p>The bill would also address qualifying crypto loans by preventing them from automatically receiving sale treatment. Eligible taxpayers could use a new disclosure program to correct certain past tax returns. These provisions would expand the federal framework without removing existing reporting obligations.</p>
<p>The House action follows another major crypto legislative development involving the proposed Bitcoin reserve framework. The House Financial Services Committee reportedly advanced the U.S. Reserve Modernization Act by 28-21. The measure would seek to place the strategic <a rel="noopener noreferrer nofollow" href="https://coinstats.app/coins/bitcoin/">Bitcoin</a> reserve into statutory law rather than relying only on executive action.</p>
<p>Under the supplied proposal, the government would lock qualifying Bitcoin holdings for at least 20 years. The Treasury would also provide quarterly reserve disclosures and independent verification of holdings. However, the proposal still needs approval from both chambers before reaching the president.</p>
<p>The crypto tax bill therefore represents progress on one part of the broader U.S. digital-asset agenda. However, committee approval does not guarantee final enactment because House and Senate approval remain necessary. The next stage will determine whether lawmakers can convert the tax proposal into federal law.</p>
<p>This article was originally published as <a href="https://www.cryptobreaking.com/crypto-tax-bill-clears-house/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Tax Bill Clears House Committee as Senate’s Clarity Act Stalls</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.</p>

Crypto Tax Bill Clears House Committee as Senate’s Clarity Act Stalls

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