US House Proposes Broad Crypto Tax Overhaul with Seven Draft Bills

The US House Ways and Means Committee is pushing forward with a comprehensive tax overhaul package for digital assets. The committee has circulated seven draft bills that aim to rewrite how the United States taxes cryptocurrencies.

The package targets three key sectors: stablecoins, staking and mining, and crypto lending. Stablecoins sit at the center of the effort, with routine payment transactions potentially triggering tax reporting under current laws.

The PARITY Act would stop this from happening, allowing validators and miners to defer income until they sell rewards. This approach eases the phantom income problem, which taxes tokens before holders cash them out.