The US Senate Finance Committee is working on bipartisan updates to crypto tax laws in the country. However, they're waiting for the House Ways and Means Committee to reach an agreement first.
The House committee recently held a hearing on June 9, discussing eight separate measures aimed at simplifying digital asset taxation.
Two of these proposals, H.R. 9178 and H.R. 9175, target the reporting burdens faced by crypto holders and the unclear tax treatment of staking and mining rewards, respectively.