Crypto Legislation Splits as Tax and Reserve Bills Advance
The Digital Asset Tax Certainty Act passed the House committee with a 38-5 vote, signaling legislative progress despite the recent Senate setback on the CLARITY Act.
The Digital Asset Tax Certainty Act advanced out of the House Ways and Means Committee on a 38-5 vote. This occurred one day after the Senate failed to pass the Digital Asset Market Clarity Act. The CLARITY Act required 60 votes to succeed but received only 50. Forty-nine senators voted against the measure, ending its immediate prospects.
The tax bill now moves to the full House of Representatives for consideration. It covers stablecoins, mining, staking, and transaction fees. The committee stated that the legislation modernizes outdated tax rules for digital assets. It aims to place crypto assets on equal footing with traditional financial instruments.
Tax rules modernize for digital assets
The bill establishes special tax treatment for stablecoins pegged to the U.S. dollar. It extends wash-sale rules to popular crypto assets. New provisions also govern income from mining and staking activities.
A de minimis exemption applies to transaction fees of $10 or less. Taxpayers will not count gains or losses when using crypto to pay these small fees. Bipartisan support in the committee facilitated the passage of these specific clauses.
Strategic Bitcoin reserve bill passes committee
The House Committee on Financial Services passed the American Reserve Modernization Act of 2026 by a 28-21 margin. The bill creates a strategic Bitcoin reserve and a digital asset stockpile. This aligns with President Donald Trump's executive order signed in March of last year.
The reserve must be funded solely through Bitcoin forfeited in criminal or civil proceedings. The government will not acquire Bitcoin on the open market for this purpose. According to Arkham Intelligence, the U.S. government currently holds 324,527 Bitcoin.
Government holdings value exceeds twenty billion
The current value of these holdings is $24.72 billion as of September 17. This figure comes from data reported by the onchain analytics platform. The legislative actions occur against this backdrop of significant state-held digital assets.
The industry faces a mixed regulatory environment in Washington. The CLARITY Act failure represents a major hurdle for market structure. However, the tax certainty and reserve bills provide concrete legislative wins. These developments highlight the fragmented progress in U.S. crypto regulation.
