US House Ways and Means Committee to Discuss Crypto Tax Legislation on September 16

The US House Ways and Means Committee is set to convene on September 16 for a markup session concerning a package of digital asset tax legislation. This meeting aims to bring two significant bills closer to a full House vote, addressing critical issues in crypto taxation.

The first piece of legislation, the Tax Clarity for Mining and Staking Act (H.R. 9175), proposes that miners and stakers should defer recognizing income from newly created tokens until those tokens are sold. Currently, miners may face tax liabilities as soon as tokens are received, regardless of whether they sell them.

The second bill, the Applying Existing Tax Anti-Abuse Rules to Digital Assets Act (H.R. 9172), seeks to extend wash-sale rules to digital assets. This move aims to close loopholes that allow crypto traders to exploit tax deductions on losses while repurchasing the same assets shortly after.

Past Treasury estimates suggest that implementing wash-sale rules for digital assets could generate approximately $23.5 billion in revenue over the next decade. The markup follows a June 2026 hearing where industry representatives emphasized the need for clear tax regulations to maintain the US's competitive edge in the digital asset space.

While the legislation is broadly applicable and does not specify particular digital assets, some Democrats on the committee have expressed the need for further analysis before proceeding. The outcome of the upcoming markup could significantly influence the regulatory landscape for cryptocurrencies.