According to Bloomberg, the U.S. House Ways and Means Committee is preparing legislation to establish a cryptocurrency tax structure, expected to be released as early as Friday and hold a hearing early next week. The committee chairman Jason Smith has listed the digital asset tax framework as a top priority, and the Ministry of Finance has been involved in the relevant process. The seven proposed bills include taxation time for mining or staking tokens, exemption of capital gains tax on some stablecoin transactions, equal tax treatment for digital assets and securities, a safe harbor for foreign investors trading US securities, and expanding the washout rules to digital assets.
