U.S. House Ways and Means Committee Circulates Seven Crypto Tax Drafts Ahead of June 9 Hearing

The U.S. House Ways and Means Committee has circulated seven discussion drafts to overhaul how digital assets are taxed, targeting stablecoins, staking, mining, and crypto lending ahead of a June 9 hearing.

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The proposals would split a broader effort into separate bills rather than pushing a single package, and they would postpone taxes on mining and staking rewards until the sale.

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One centerpiece is the Digital Asset PARITY Act, originally presented on 19 de mayo, with provisions aimed at preventing “payments criptográficos habituales” from triggering additional tax reporting requirements.

The drafts also include wash sale restrictions for crypto, requiring operators to wait 30 days before buying back assets after claiming a tax loss.

The package is framed as Congress moving toward clearer federal tax treatment for everyday crypto transactions, with stablecoins and staking described as central issues.

Industry groups and lawmakers are weighing how the drafts would change reporting burdens, including proposals for a “de minimis” reporting exception for small transactions.

The TradingView report says a draft law released by members of Congress in March and officially introduced in May as the Digital Asset PARITY Act proposed a $200 reporting threshold for stablecoin transactions, while not setting one for cryptocurrencies like Bitcoin.

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CoinDesk highlights that one draft seeks to allow taxpayers to choose between paying at receipt or when they sell the assets, as part of efforts to reduce double taxation on mining and staking.

Alison Mangiero, policy head for the Crypto Council for Innovation, said in a statement that getting digital asset tax treatment right is “essential to compliance, to everyday use, and to keeping this activity and its revenue in the United States,” and she added that the seven-bill approach is “significant on procedural grounds alone.”

Cody Carbone, CEO of the Digital Chamber, welcomed the hearing as a chance “to refine these proposals and keep the bipartisan tax effort moving forward,” while also saying his organization will work with the committee to strengthen the drafts.

The legislative push is tied to a broader push for bipartisan momentum, with the June 9 hearing scheduled as the next concrete milestone for the committee’s consideration of the seven drafts.

Legis1 frames the hearing as shaping IRS enforcement priorities, broker reporting obligations, and the tax liability of an estimated 50 million Americans who hold some form of digital asset, while noting the hearing arrives amid “bipartisan momentum.”

Legis1 also says the hearing will be chaired by Jason Smith(R-MO), with Rep. Richard Neal (D-MA) serving as ranking member, and it describes the PARITY Act as co-authored by Reps. Steven Horsford(D-NV) and Max Miller(R-OH).

On the Senate side, Legis1 says Sen. Cynthia Lummis (R-WY) introduced S. 2207, which would create a de minimis exemption for personal transactions under $300 and defer income recognition from mining and staking until assets are sold.

The stakes extend beyond the hearing because Legis1 links the debate to the rollout of Form 1099-DA, a new IRS form requiring digital asset brokers to report customer sales to the IRS for 2025 transactions, with statements sent in early 2026.