Crypto Taxation Bills Approach Get Ways Consideration: BGOV Tax

Crypto Taxation Gets Its Turn in the Sun

The House Ways and Means Committee is set to consider seven discussion draft bills at a Tuesday hearing on taxing digital assets, marking the first time a tax-writing panel has formally taken up a committee product on the issue, Chris Cioffi and Caitlin Reilly report.

The bipartisan measures, which Bloomberg Tax scooped last week, developed under Chair Jason Smith (R-Mo.) with Treasury Department involvement, would overhaul how cryptocurrency holders report gains and interact with existing tax law.

Key proposals would let miners and stakers defer income recognition on newly ...