House Ways and Means to unveil crypto tax rules Friday
Big news for anyone into crypto: the House Ways and Means Committee, led by Jason Smith, is about to drop a set of new tax rules for digital assets.
The proposal lands as early as Friday, with a hearing lined up next Tuesday.
It's the first time Congress is seriously moving to spell out how crypto should be taxed.
Seven-bill package bundles crypto tax changes
The plan, shaped with input from Treasury, Commerce, and the White House, bundles seven bills covering things like mining, staking rewards, and stablecoin transactions.
Highlights include making crypto taxes more like those for stocks, bringing wash sale rules to digital coins, and letting some stablecoin trades skip capital gains taxes.
There are also safe harbors for foreign investors trading US securities.
While Republicans are leading the charge, both parties (plus industry voices) have weighed in, but it's not clear if all Democrats are on board yet.