Congress Gets 7 New Crypto Tax Bills: Here’s What’s In Them

House Republican leadership has begun circulating seven new crypto tax bills that will take center stage at a key hearing next week. 

The bills cover a wide range of hot-button issues, including de minimis exemptions, the tax treatment of crypto staking and mining rewards, and an IRS safe harbor for prior failures to report crypto gains. They mark the first time congressional leadership in either the House or Senate has moved forward with tax-focused crypto legislation, despite the fact that bills on the subject have previously been floated in both chambers.

The new crypto tax bills, circulated by the Republican leadership of the House Ways and Means Committee, are likely to be discussed at a committee hearing on digital asset taxation set for Tuesday, sources familiar with the matter told Decrypt.

The seven bills, seen by Decrypt, deliver on longstanding promises to the crypto industry. One bill, the Tax Clarity for Mining and Staking Act, would exempt crypto generated through staking and mining from a holder’s taxable income. In recent years, legal disputes have arisen over whether staking and mining rewards should be considered taxable income at the moment of their generation. Currently, crypto users who stake their coins—that is, pledge a certain amount to a network, such as Ethereum or Solana—must report the rewards they receive as income, even if those rewards are never sold or exchanged for dollars.

Another bill, the Less Tax Paperwork for Digital Asset Owners Act, would establish a $10 de minimis tax exemption for crypto network transaction fees, also known as gas fees. A taxpayer could exempt up to 5,000 such transactions a year under the legislation. At the moment, crypto users are required to report every transaction on a blockchain network—even those totalling fewer than a few cents—as a taxable event.

Notably, however, the bills set to be discussed Tuesday do not include any larger de minimis exemption for everyday purchases completed with popular cryptocurrencies like stablecoins and Bitcoin. A crypto tax bill introduced last year by Sen. Cynthia Lummis (R-WY) would have created a $300 de minimis for transactions in any cryptocurrency, capped at $5,000 but exempting stablecoin payments.

Crypto industry leaders have long sought a broader crypto de minimis exemption, which would encourage the use of digital assets in everyday transactions—particularly those involving stablecoins, dollar-equivalent crypto tokens legalized in last year’s GENIUS Act. Without such exemptions, crypto users must calculate capital gains taxes every time they use Bitcoin or stablecoins to pay for a good or service.

Another bill poised to be debated Tuesday would exempt U.S. citizens from being treated as U.S. residents on certain digital asset sales if at least 10% of income derived from the sale is paid to a foreign country as income tax. And the Digital Assets Voluntary Disclosure Program Act would give U.S. crypto holders a two year amnesty period in which they could self-report past failures to pay taxes on crypto holdings. Those who pay the taxes, or set up a payment plan to do so, would be exempt from future criminal liability.

The Digital Chamber, a D.C. crypto trade group, said the tax bills were crafted through “months of industry engagement.”

“We’re encouraged to see the suite of discussion drafts,” Cody Carbone, the group’s CEO, said in a statement. “Next Tuesday’s legislative hearing is a welcome opportunity to refine these proposals and keep the bipartisan tax effort moving forward.”