Trump Adviser Backs Sweeping Crypto Tax Bills Amid Congressional Push

Patrick Witt, an adviser to former US President Donald Trump, has expressed support for six House crypto tax bills aimed at clarifying rules for staking, mining, and digital asset transactions. The proposals were posted on X by Witt, who praised the House Ways and Means Committee's latest tax measures.

The endorsement arrived ahead of a June 9 committee hearing examining six separate crypto tax measures, including the Less Tax Paperwork for Digital Asset Owners Act and the Tax Clarity for Mining and Staking Act. The latter would establish when staking and mining rewards become taxable, an issue that has been debated across the crypto industry.

According to committee documents, the legislation targets several areas that have remained unclear under existing tax guidance. Another proposal attracting interest is the Less Tax Paperwork for Digital Asset Owners Act, which would create a de minimis exemption for certain low-value transactions and reduce reporting requirements for everyday crypto payments.