The U.S. House of Representatives' cryptocurrency tax bill proposes to exempt network fees under $10, and those who transfer more than 5,000 times a year are not applicable

The Chairman of the U.S. House of Representatives' Ways and Means Committee, Jason Smith, announced the 114-page "Digital Asset Tax Clarification Act" (H.R. 10357), which aims to exempt taxes on network or transaction fees below $10, and will hold a committee review on September 16 at 10 AM. The bill stipulates that users with more than 5,000 transfers in the previous year are not eligible for the aforementioned fee exemption.

Another accompanying bill aims to include digital assets in wash sale rules and presumption of sale rules, but excludes qualified stablecoins, expecting to increase revenue by $2.074 billion from fiscal years 2026 to 2036. The accompanying bill also proposes to allow miners and stakers to defer income from newly generated tokens until the time of sale, with an expected ten-year fiscal cost of $2.956 billion. Republican members of the committee are considering removing the relevant provisions or limiting the deferral period to five years.