House Ways and Means Committee Prepares Crypto Tax Framework Legislation on June 5

According to Bloomberg, the House Ways and Means Committee is preparing legislation on June 5 to establish a comprehensive crypto tax structure, with potential release as early as Friday and hearings expected early next week. Committee Chair Jason Smith is prioritizing a digital asset tax framework. The committee is expected to introduce seven bills, including measures on taxation timing for mining and staking rewards, capital gains exemptions for certain stablecoin transactions, and extending wash-sale rules to digital assets.
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