The U.S. House Ways and Means Committee passed a cryptocurrency tax bill by a vote of 38 to 5

According to Odaily, the U.S. House Ways and Means Committee passed a bipartisan-supported cryptocurrency tax bill by a vote of 38 in favor and 5 against. The bill has been scaled back from an earlier version and still needs to go through subsequent legislative procedures.

The bill aims to reduce the tax burden on small cryptocurrency transactions and expand related tax rules so that digital assets receive the same tax treatment as other financial products. (CoinDesk)