House Panel Advances Crypto Tax Bill H.R. 10357 in 38-5 Vote

A House committee voted 38-5 on Wednesday, September 16, to advance H.R. 10357, the Digital Asset Tax Certainty Act, to the full House of Representatives. Nothing about your tax return changes yet: a markup vote sends a bill out of committee, and the measure still needs passage in the House and Senate and a presidential signature before it becomes law.

What the Ways and Means Committee actually approved

According to the Ways and Means Committee's own statement, H.R. 10357 is intended to modernize the tax code for digital assets by clarifying the treatment of mining and staking, streamlining reporting and creating parity with traditional financial assets. Accounting Today reported that the bill was introduced Monday by committee chairman Rep. Jason Smith (R-Missouri) with input from other members, and that it was one of three bills marked up Wednesday alongside the EFIN Verification Act and the FULL HOUSE Act. Blockchainreporter described the measure as a 114-page text released late Monday night, a detail also attributed to Bloomberg Government coverage aggregated by NewsCord.

On the substance, the reporting is consistent across outlets. Cointelegraph reported the bill covers stablecoins, mining and staking, digital asset lending and transaction fees, and would establish special treatment for qualifying dollar-pegged stablecoins and certain crypto lending agreements, extend wash-sale rules to widely traded digital assets, and create a de minimis exemption so that using crypto to pay qualifying network or transaction fees does not trigger a recognized gain or loss. Blockchainreporter put the fee threshold at $10 or less, said the wash-sale extension would delay loss deductions when an investor buys a substantially identical asset within 30 days of a sale, and reported — citing the Joint Committee on Taxation's description — that qualifying crypto loans would not be treated as sales and that a disclosure program would let eligible taxpayers correct past returns. The Ways and Means release adds that the bill would make digital assets eligible for two existing safe harbors and allow digital asset dealers and traders to use mark-to-market accounting.

One framing needs reconciling. The seed headline and several outlets call this a comprehensive overhaul; CoinDesk described the same bill as bipartisan but narrowed from earlier versions. Both can be true. The clearest narrowing is that lawmakers removed a provision that would have let miners and stakers defer recognition of rewards until tokens are sold, reported by Cointelegraph, Cryptowisser and blockchainreporter. Accounting Today quoted American Bankers Association president Rob Nichols thanking Chairman Smith for removing that deferral provision, which tells you the change was contested rather than technical.

The verified figures

What the $10 threshold and the wash-sale change would mean for ordinary holders

The fee exemption is narrower than the phrase "small crypto transactions" suggests. As described by Cointelegraph and blockchainreporter, the relief applies to digital assets spent on qualifying network or transaction fees — the gas you burn to move a token — not to every small purchase made with crypto. Under current law, as the committee describes it, disposing of a fraction of a coin to pay a fee is a taxable event that has to be tracked and reported. That is why the committee cites hundreds of millions of 1099-DA forms in 2025, many below $10: the compliance cost of reporting can exceed the tax involved. If enacted as described, the practical effect for an active on-chain user is fewer micro-disposals to reconcile, not a lower tax bill on trading profits.

The wash-sale extension runs the other way. Today, investors can sell a digital asset at a loss and buy it back immediately, because the wash-sale rule that applies to stocks and securities has generally not covered crypto. Extending it, as blockchainreporter describes, would delay the loss deduction when a substantially identical asset is repurchased within 30 days. That is a cost to tax-loss harvesting strategies, and it is the price of the "parity with traditional financial assets" the committee is advertising. Read the two provisions together and the trade is visible: lighter reporting on payments and fees, tighter rules on loss timing.

Several things remain unknown, and readers should treat them that way. The staking and mining question is explicitly unsettled — Cryptowisser reported that Democratic Rep. Steven Horsford said Congress still needs to determine whether rewards are recognized when created, received or sold, and that the bill treats them as ordinary income without resolving timing. The 2028 start date for the fee exemption appears in blockchainreporter's account and I did not find it confirmed in the committee release, so treat it as single-sourced. I also did not locate a Joint Committee on Taxation revenue estimate for the package, so the budget cost is not established here. And committee text changes: the version that reaches the House floor may not match Wednesday's.

What has to happen next, and the calendar working against it

CoinDesk placed the vote less than 24 hours after the Senate failed to advance the industry's market structure priority. Cointelegraph reported the CLARITY Act cloture motion failed 49-50 on Tuesday, short of the 60 votes needed to open floor debate, with lead sponsor Sen. Cynthia Lummis blaming Democrats. A failed cloture vote does not kill a bill permanently, but it does mean the broader SEC-CFTC framework is not law and is not scheduled.

Support for the tax bill was bipartisan but not unanimous. CoinDesk quoted Rep. Lloyd Doggett (D-Texas) saying the committee "remains the only place in Congress that's rushing to provide favors to this industry." Chairman Smith, in his post-vote statement reported by Decrypt and blockchainreporter, said the bill "wasn't built overnight" and credited more than a year of bipartisan work.

On timing, sources give slightly different pictures of the same calendar. Cryptowisser reported the full House is preparing to leave Washington until after the November elections, making an immediate floor vote unlikely, and cited Alison Mangiero of the Crypto Council for Innovation expecting later consideration. Blockchainreporter counted roughly five weeks of session remaining before the new Congress convenes in January. These are compatible if the House returns for a post-election session, but neither is a scheduled floor date, and I found no dated notice of one. Until the House schedules a vote, the only recorded result is the committee's 38-5 report.