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The U.S. House of Representatives releases multiple bills aimed at adjusting the cryptocurrency tax framework, focusing on mining, staking, and reporting rules
BlockBeats News, June 9th, cryptocurrency journalist Eleanor Terrett revealed that members of the Republican Party on the U.S. House of Representatives Committee on Fundraising released six standalone bills and a discussion draft ahead of the crypto tax hearing scheduled for this afternoon at 2 PM local time, aiming to systematically adjust the tax framework for digital assets.
The relevant proposals cover cryptocurrency donations, taxation of mining and staking income, reporting requirements, tax treatment equality, voluntary disclosure mechanisms, and the extension of existing anti-abuse tax rules to the digital asset sector. Meanwhile, the discussion draft focuses on addressing issues related to offshore structures used for crypto tax avoidance, to strengthen regulatory constraints and compliance requirements.
The committee stated that the above bills aim to create clarity, fairness, and operability for digital assets, and to maintain the United States' position as a global crypto hub. Witnesses attending the hearing include representatives from Fidelity, Coinbase, Coin Center, and the NYU Tax Law Center.