The US House Ways and Means Committee passes the Digital Asset Tax Certainty Act and reports it to the entire House

The U.S. House Ways and Means Committee passed the Digital Asset Tax Certainty Act with 38 votes in favor and 5 votes against, and reported it to the entire House of Representatives. The bill stipulates that on chain network fees below $10 per transaction may not be treated as taxable items when they meet the conditions, except for transfers exceeding 5000 in the previous year. During the review period, Democratic Congressman Lloyd Doggett's amendment regarding the 1099 reporting obligations for non custodial and DeFi platforms was rejected with 12 votes in favor and 28 votes against, while the amendment calling for research on the electricity and environmental impacts of cryptocurrency mining was rejected with 16 votes in favor and 25 votes against.