House Committee Preparing Bills to Forge Crypto Tax Structure

A House panel with jurisdiction over tax policy is readying legislation to address the taxation of cryptocurrencies for release as early as Friday, before a hearing early next week.

House Ways and Means Chairman Jason Smith has made establishing a framework for the taxation of digital assets a top priority for the committee, even as the Senate toils to pass market structure legislation.

While individual members have put forward measures that would address the taxation of digital assets, the bills being presented represent the first effort backed by leadership of either the House or Senate tax-writing committees. The Treasury Department ...