On September 16, the House Ways and Means Committee in the United States is set to evaluate two proposed bills that aim to alter the tax calculation methods for miners, crypto investors, and traders. This information was reported by CryptoBriefing.
The bills in question are H.R. 9175 and H.R. 9172. As of the time of writing, there is no record of the corresponding hearings in the committee calendar.
H.R. 9175, known as the Tax Clarity for Mining and Staking Act, provides an option for recognizing tokens acquired through mining, staking, and other transaction validations as ordinary income based on their fair market value at the time of receipt, or to defer the recognition of income for qualified assets until they are sold.
H.R. 9172, titled the Applying Existing Tax Anti-Abuse Rules to Digital Assets Act, extends the existing rules regarding “wash sales” and “constructive sales” to digital assets.
In traditional markets, these regulations prevent investors from selling a security at a loss, claiming a tax deduction, and then immediately repurchasing the same security. For years, cryptocurrency traders in the U.S. have exploited this loophole in trading digital assets to obtain tax deductions.
According to a rough estimate from the Treasury Department, applying the “wash sale” rules to digital assets could generate approximately $23.5 billion over the next decade.
Additionally, it is noteworthy that on September 14, Senate Republicans introduced the final version of the CLARITY Act, which imposes stricter limitations on officials' participation in the crypto business. President Donald Trump agreed to the new terms ahead of the procedural vote.