Senate Holds Fire on Crypto Tax Reform Until House Reaches Agreement

The US Senate Finance Committee is waiting for the House to reach an agreement on crypto tax reform before moving forward. This bipartisan effort aims to simplify digital asset taxation, which has been a source of confusion and compliance burdens for investors.

The House Ways and Means Committee held a hearing in June to discuss eight measures aimed at clarifying digital asset taxation. Two key proposals are the 'Less Tax Paperwork for Digital Asset Owners Act' (H.R. 9178) and the 'Tax Clarity for Mining and Staking Act' (H.R. 9175). H.R. 9178 targets reporting burdens, while H.R. 9175 addresses ambiguity around staking and mining rewards.

The Senate Finance Committee has been working on bipartisan updates to digital asset taxation since July 2023. A Joint Committee on Taxation report laid out the technical landscape, and a hearing in October 2025 highlighted pain points such as transaction reporting requirements and staking rewards taxation. The Miller-Horsford PARITY Act draft, updated in March 2026, tackles adjacent issues like de minimis transactions and wash sales.