The House Ways and Means Committee is set to examine digital asset tax rules during a legislative hearing today. The session focuses on payments, network fees, mining, staking, and related relief proposals. Witnesses from industry and policy groups are expected to testify.
The hearing is scheduled for 2:00 PM ET in room 1100 Longworth. It will address whether tax relief should apply only to regulated stablecoins or extend to small Bitcoin and other on-chain transactions. Witnesses include Sarah Reilly of Fidelity Investments, Lawrence Zlatkin of Coinbase, Jason Somensatto of Coin Center, and Mike Kaercher of the Tax Law Center at NYU Law. Written comments are due by June 23. The discussion builds on the GENIUS Act for payment stablecoins and the CLARITY Act for market structure. Current IRS rules treat digital assets as property, requiring basis tracking for payments and fees. Proposals such as the Digital Asset PARITY Act seek to treat qualifying stablecoins like cash for tax purposes and offer deferral options for mining and staking rewards.
