Cryptocurrency tax legislation is still being drafted, as U.S. House lawmakers raise questions

Odaily reported that the U.S. House Ways and Means Committee reviewed a series of crypto tax proposals during a hearing on Tuesday and raised questions about the details of several drafts. These bills aim to reduce the tax filing burden for crypto users and investors, including exempting micro-transactions from tax reporting and eliminating double taxation on mining and staking rewards upon both receipt and sale.

However, Democrats on the committee expressed concerns about the provision that would allow miners and stakers to defer tax on new token income until disposal, arguing it could be abused by corporate structures for permanent tax evasion. It remains unclear whether these major crypto tax legislations can be passed before the end of the current Congress in 2026. (CoinDesk)