U.S. House Ways and Means to Take Up Crypto Tax Overhaul Bills in September

The House Ways and Means Committee held a legislative hearing on June 9, marking its first major return to crypto tax policy in years. Chairman Jason Smith (R-MO) guided members through at least six bills and related drafts aimed at reshaping how the IRS taxes digital assets. Draft text released June 4 targets long-running complaints from crypto users and industry advocates. One headline proposal, H.R. 9178, would ease tax reporting for small digital-asset purchases. Under current rules, using Bitcoin to buy goods or services typically counts as a taxable event, requiring taxpayers to calculate and report capital gains or losses. The bill would create a carve-out intended to make everyday transactions less burdensome. A second measure, H.R. 9175, focuses on mining and staking. Today, the IRS generally treats staking rewards and newly minted tokens as taxable income when received. The proposal would allow recipients to defer taxation, addressing cases where taxpayers can face a bill even if the value of rewards later falls. Beyond these provisions, the broader package argues for closer alignment with traditional tax treatment of comparable financial activities. The committee's stated premise is that assets should not face harsher tax outcomes solely because they are recorded on a blockchain. Smith has framed the push as a competitiveness issue, saying the U.S. needs clearer "rules of the road" for digital assets. Reps. Max Miller and Steven Horsford—a Republican and a Democrat—contributed earlier work in 2026 that informed the current package. As of late June 2026, industry groups were backing key mining and staking provisions without changes. For investors and everyday users, a small-transaction exemption could remove a major adoption hurdle by reducing routine tax paperwork. For miners and stakers, deferral would move crypto rewards closer to how income-generating assets are typically handled in traditional finance, including in proof-of-stake systems such as Ethereum.