House Republican leadership on the Ways and Means Committee circulated seven new crypto tax proposals ahead of a committee hearing on digital asset taxation scheduled for Tuesday, June 10, 2026, Decrypt reported June 5. The proposals represent the first time congressional leadership in either the House or Senate has moved forward with dedicated crypto tax legislation, despite prior attempts in both chambers.
The seven bills were described by the Digital Chamber, a D.C. crypto trade group, as products of "months of industry engagement." Cody Carbone, the group's CEO, called the hearing "a welcome opportunity to refine these proposals and keep the bipartisan tax effort moving forward."
Exempts crypto generated through staking and mining from taxable income at the moment of generation. Under current law, staking rewards must be reported as income when received, even if never converted to dollars. This bill defers taxation until sale or exchange.
Creates a $10 de minimis tax exemption for blockchain network transaction fees (gas fees), covering up to 5,000 transactions per year. Currently, every gas fee — even sub-cent amounts — must be reported as a taxable event.
Opens a two-year amnesty window for U.S. crypto holders who self-report past failures to pay taxes on digital asset gains. Those who pay owed taxes or arrange a payment plan would receive exemption from criminal liability.
Exempts U.S. citizens from U.S. residency treatment on certain digital asset sales if at least 10% of income derived from the sale is paid to a foreign government as income tax. Targets cross-border crypto transactions by U.S. persons abroad.
Three additional proposals addressing related issues including reporting requirements and IRS safe harbor provisions for prior reporting failures. Full text of each bill had not been publicly released as of the reporting date.
The bills stop short of a broader de minimis exemption for everyday crypto purchases — a provision the industry has long sought. A prior bill introduced by Sen. Cynthia Lummis (R-WY) would have created a $300 de minimis for general crypto transactions capped at $5,000 annually, covering stablecoin payments. That provision is absent from the current package.
Without that broader exemption, crypto users remain required to calculate capital gains taxes on every purchase made with digital assets, including stablecoins — a friction point that has limited everyday adoption despite the GENIUS Act's 2025 federal legitimization of stablecoin issuance.
Both chambers have seen crypto tax bills floated by individual members, but this marks the first time the leadership of a major tax-writing committee has advanced dedicated crypto tax proposals. The Ways and Means Committee controls the origination of all U.S. tax legislation in the House.
The timing follows the GENIUS Act's passage in 2025 and ongoing regulatory progress under the CLARITY Act framework. The tax treatment of digital assets remains one of the last major unresolved compliance issues for institutional and retail adoption. For deeper context on the broader legislative environment, see our coverage of the CLARITY Act and JPMorgan's institutional positioning.