The crypto tax bill cleared committee 38 to 5, and the substitute's only change was to fix the retroactive date
Ways and Means ordered H.R. 10357 favourably reported on Wednesday, two days after the market structure bill lost cloture 49 to 50.
News, data and analysis on tokenized assets, market design and digital economic systems.
The oldest committee of the United States Congress and the chamber's tax-writing committee, which on 14 September 2026 introduced the first comprehensive digital asset tax bill to reach a markup, H.R. 10357, and set it for a vote the following Wednesday morning.
The committee describes itself as the chief tax-writing committee in the House of Representatives, and grounds its standing in Article I, Section VII of the Constitution, under which all bills for raising revenue shall originate in the House. Its jurisdiction runs to taxes, tariffs, trade agreements, Social Security, Medicare and social services programmes, and it works through six subcommittees: Tax, Trade, Health, Social Security, Oversight, and Work & Welfare. Its own account dates it to a select committee created on 24 July 1789, reconstituted in 1795 and made a standing committee on 7 January 1802, and calls it the oldest committee of the United States Congress, counting eight Presidents, eight Vice Presidents, twenty-two Speakers of the House and four Supreme Court Justices among its alumni. On this beat its work had been indirect until September 2026: digital asset market structure sits with Financial Services and Agriculture in the House and with Banking and Agriculture in the Senate, and tax treatment had moved through standalone bills that went nowhere. That changed with H.R. 10357, the Digital Asset Tax Certainty Act, introduced on 14 September 2026 by the chair, Jason Smith of Missouri, with eight other members, and noticed the same evening for markup at 10 a.m. on 16 September in HVC-210. The bill rewrites the Internal Revenue Code's treatment of digital assets across seven titles, from a de minimis fee exception and a par rule for licensed dollar stablecoins to wash sale and constructive sale rules, the sourcing and character of mining and staking income, and a voluntary disclosure programme with a decaying penalty schedule.
Developments in which United States House Committee on Ways and Means is a named party, newest first.
Ways and Means ordered H.R. 10357 favourably reported on Wednesday, two days after the market structure bill lost cloture 49 to 50.
Ways and Means votes on Wednesday morning on 114 pages nobody has read to the end. The wash sale rule applies to dispositions after the date of introduction, which was Monday. The $10 fee exemption waits for 2028.
The committee adopted a substitute by voice vote whose only change is to replace the date of the introduction of the Act with 14 September 2026 in six places, rejected two minority amendments by 12 to 28 and 16 to 25, and reported H.R. 10357 by 38 yeas to 5 nays. The Joint Committee scores the bill at a net $500m over 2027 to 2036.
H.R. 10357 rewrites the tax treatment of digital assets across seven titles and was noticed for a vote on 16 September. Its wash sale extension applies to dispositions after the date of introduction, the par rule for licensed dollar stablecoins from 2027, and the $10 de minimis fee exception and simplified accounting election from 2028.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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