The House Ways and Means Committee is set to review the Digital Asset Tax Certainty Act on Wednesday, a measure that would shield minor blockchain costs from capital gains taxes while establishing federal guidelines for stablecoins, staking, mining, and digital asset trades.
Committee Chairman Jason Smith, R-Mo., introduced the 114-page bill, designated H.R. 10357. The committee has scheduled the markup session for 10 a.m. Eastern on Sept. 16. During this procedural step, members debate the text, propose changes, and determine if the bill advances to the full House.
A central feature of the legislation is a "de minimis" exemption for network or transaction fees of $10 or less. This term denotes amounts too small to warrant standard tax treatment. Because the IRS classifies digital assets as property, paying a blockchain fee with crypto can trigger a taxable event. The proposed rule would permit taxpayers to ignore gains or losses associated with these eligible small fees.
Lawmakers reviewed this concept along with six other crypto tax proposals during a June hearing on digital asset taxation. Beyond the fee exemption, the bill would set the tax basis for qualifying dollar-pegged stablecoins at their redemption value when bought near that price. It also classifies mining and staking rewards as ordinary income and permits certain investment trusts to stake assets without risking their tax status.
Notably, the bill omits a provision from an earlier industry-backed proposal that would have deferred income recognition for some newly created mining and staking rewards. Instead, H.R. 10357 extends wash-sale rules to digital assets and exempts qualifying crypto loans from being treated as sales. The legislation also creates a Treasury program enabling eligible taxpayers to amend past returns to pay outstanding taxes, interest, and penalties.
For H.R. 10357 to become law, it must pass the committee and secure approval from the House, the Senate, and the President.