US Congress Circulates 7 Crypto Tax Bills Targeting Staking and Stablecoins

iEXExchanger
US Congress Circulates 7 Crypto Tax Bills Targeting Staking and Stablecoins

The House Ways and Means Committee circulated seven crypto tax drafts covering staking deferral, stablecoin purchases, and small transactions. A hearing is set for June 9.

On June 5, the U.S. House Ways and Means Committee circulated seven crypto tax draft bills — not a single omnibus, but a coordinated set of targeted fixes to issues that have long made America's crypto tax rules among the most burdensome in the developed world.

The core problem hasn't changed: under current law, virtually every crypto transaction triggers a taxable event. Spend Bitcoin, report the gain or loss. Receive staking rewards, owe income tax immediately — even if you haven't touched the tokens. That's what the package aims to fix.

The headline proposal is the bipartisan PARITY Act: miners and validators would be able to elect a deferral on newly created token rewards for up to five years. Right now, many stakers sell a portion of their rewards just to cover the tax bill on income they haven't converted to cash. The bill would end that forced liquidation cycle.

A second draft targets stablecoins. Transactions involving regulated, dollar-pegged stablecoins worth less than $200 would be exempt from capital gains tax. The practical effect: people could actually use crypto for everyday purchases without generating a compliance event each time they buy lunch.

The remaining five bills address: wash sale alignment (crypto currently lacks the same rules as stocks, creating a well-known loophole), charitable donation treatment, de minimis exemptions for small gains, lending and borrowing rules for tokenized assets, and a voluntary disclosure program for past reporting lapses.

A committee hearing is scheduled for June 9. Full enactment still requires a House floor vote, Senate approval, and the President's signature — realistically not before late 2026. But launching seven bills simultaneously, with bipartisan backing on the key provisions, marks a level of legislative intent on crypto taxation that simply didn't exist twelve months ago.

Questions and answers

Frequently asked questions about this article

What is the PARITY Act and how does it help stakers?

A bipartisan bill that lets miners and validators elect to defer taxes on newly created token rewards for up to five years. Currently, staking rewards are taxed as ordinary income the moment they are received, even if never sold.

Why seven separate bills instead of one?

Splitting the package lets each bill advance independently. If one provision stalls politically, the others can still move. It's a common legislative strategy for contentious reforms where consensus varies by topic.

When could the crypto tax reform take effect?

A committee hearing is set for June 9, 2026. Full enactment needs a House floor vote, Senate approval, and the President's signature — realistically not before late 2026 or 2027.

What changes for people who pay with stablecoins?

Currently, any crypto payment is a taxable event requiring capital gain calculation. Under the proposed bill, regulated stablecoin transactions under $200 would be exempt — making everyday crypto payments legally practical for the first time.