House tax panel advances first federal crypto tax bill as Senate's Clarity Act stalls

A House committee has moved the first federal tax rules for digital assets one step forward, a day after a broader crypto bill tripped in the Senate.

On Wednesday, September 16, the House Ways and Means Committee voted 38-5 to advance the Digital Asset Tax Certainty Act, sending it to the full House, according to The Block. Committee Chair Jason Smith (R-Mo.) called it "the first-ever tax framework for digital assets" and pointed to more than a year of bipartisan work.

The bill's headline provision is a de minimis threshold: users wouldn't owe tax on crypto network or transaction fees of $10 or less. That carve-out doesn't cover service providers transacting on others' behalf, and — if enacted — wouldn't take effect until December 2027. The legislation would also direct Treasury to stand up a Digital Asset Voluntary Disclosure Program within 12 months of enactment, letting qualifying taxpayers amend past returns and settle tax, interest, and penalties.

On mining and staking, the bill sets ordinary-income treatment, while allowing certain investment trusts to stake holdings without that activity alone changing their tax status. An earlier version reportedly included an option to defer income; that was removed, so the current text does not resolve when mining and staking income is recognized — a gap flagged by both a lawmaker and an industry group (see below).

Timing matters here: the House leaves Washington until after the November elections, so the measure is likely to be picked up during the lame-duck period, with attention turning to the Senate Finance Committee, per The Block.

Key facts

• 38-5 committee vote to advance the Digital Asset Tax Certainty Act, Sept. 16 (The Block).
• $10 or less fee threshold exempts network/transaction fees; excludes service providers; effective December 2027 (The Block).
• Treasury must create a Voluntary Disclosure Program within 12 months of enactment (The Block).
• Mining and staking taxed as ordinary income; income-recognition timing left unresolved after a deferral option was cut (The Block).
• Vote came less than a day after the Senate's Clarity Act failed its first procedural vote (The Block).

The real-world read

The "historic first framework" language is real but partial. Rep. Steven Horsford (D-Nev.), who worked on the bill, said plainly it "is not as comprehensive as I would have liked" and "leaves that timing question unresolved" for mining and staking rewards. Alison Mangiero of the Crypto Council for Innovation — an industry body, so an interested party — likewise said the bill still needs work on income-recognition timing and broader de minimis relief.

The politics are inseparable from the Senate's stumble a day earlier: Democrats said they opposed the Clarity Act largely over ethics concerns tied to President Trump's crypto holdings, described as worth hundreds of millions. That fight resurfaced Wednesday, with Rep. Lloyd Doggett (D-Texas) arguing the tax bill "bestows billions in tax breaks" benefiting "billionaire crypto whales" and "the Trump family." A committee vote is not law; this bill has passed one panel, not Congress.

Opinion, and whose

• Passage will likely wait for the lame-duck session, with focus shifting to Senate Finance — Mangiero, Crypto Council for Innovation.
• The bill delivers outsized tax breaks to wealthy holders including the Trump family — Rep. Doggett (D-Texas).
• Congress still must fix when staking/mining rewards are recognized — Rep. Horsford (D-Nev.).

Sources

• The Block (reputable secondary), Sept. 16, 2026 — reported the 38-5 vote, bill provisions, next steps, and quotes from Smith, Horsford, Mangiero, and Doggett. It cites the committee vote and named lawmakers directly; the underlying bill text and vote are the primary record. No sponsored or marketing content used.

This is news, not financial or tax advice.