U.S. House’s tax committee advances crypto tax bill in wake of Clarity Act loss

U.S. House’s tax committee advances crypto tax bill in wake of Clarity Act loss

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Less than 24 hours after the collapse of the crypto industry’s market structure bill, the tax committee in the U.S.

House of Representatives has advanced another important industry effort that would clarify crypto tax treatment and ease burdens on casual transactions.

At a Wednesday hearing known as a markup, in which a committee evaluates a bill and considers changes before deciding whether to advance it to the wider chamber of lawmakers, the panel voted 38-5 to endorse the bill and forward it to the rest of the House, signalling massive bipartisan support for the measure.

The Digital Asset Tax Certainty Act, revealed earlier this week by the House Ways and Means Committee, would provide crypto users long-awaited answers on what are known as “de minimis” transactions, or small, routine payments, which currently trigger difficult tax accounting.

The legislation also addresses how crypto income would be recognized for tax purposes, transfers, wash sale rules, mining, staking and requirements for brokers, and it generally seeks to ensure that digital assets get similar treatment as other assets.

Its movement comes at a late stage in the congressional session, leaving it little time for further action from lawmakers unless it can draw attention during the brief period of roughly five weeks of congressional work scheduled between the November elections and the start of the next session in January.

But establishing some legislative momentum on the bill now may help smooth the way for future efforts with the same aim.

Apart from the industry’s primary focus on getting a market structure bill set into law, which failed a key Senate vote on Tuesday, establishing a crypto tax law has been another major priority.

The small-transactions threshold is set at $10 in this legislation — significantly lower than some of the previous efforts at tax bills, but an idea seen as necessary to make digital assets more practical to use in payments.

Committee Chairman Jason Smith noted that without it, buying a cup of coffee “triggers an absurd maze of compliance.” “We are establishing basic tax rules for digital assets,” said Representative Steven Horsford, a Nevada Democrat who has been pushing such tax policy over the past year.

Analiz: Piyasa hareketliliği devam ediyor.