Tax Insight

Ways and Means Committee advances digital asset tax legislation

Insight
5 minute read
September 23, 2026

What happened?

The House Ways and Means Committee on September 16 voted 38 to 5 to approve H.R. 10357, the Digital Asset Tax Certainty Act, as amended by a chairman’s substitute, with all Committee Republicans and 12 Committee Democrats supporting the bill. The bill consolidates and modifies a series of digital asset tax proposals developed over the course of 2026, including provisions considered at the Committee's June legislative hearing (June package).

The bill also would repeal the limitation on wagering loss deductions enacted as part of the One Big Beautiful Bill Act (OBBBA). Notably, H.R. 10357 does not address the timing of income from mining and staking rewards, an issue that was included in earlier proposals and debated at the Committee’s June hearing.

Why is it relevant?

H.R. 10357 would establish more tailored statutory rules for the tax treatment and reporting of digital assets, including by extending several existing tax regimes applicable to traditional financial assets to digital assets.

Actions to consider

Taxpayers and businesses with digital asset activity should assess how the proposed rules could affect transaction reporting, accounting methods, lending and trading arrangements, charitable contributions, and application of the wash sale and constructive sale rules. Businesses also should consider whether existing systems and records can support the proposed reporting and compliance requirements. Miners, validators, and staking businesses should continue to monitor legislative developments addressing the timing of income recognition for rewards.