US House Ways and Means Committee to Examine Digital Asset Tax Policy at July 16 Hearing

PANews, July 10—According to CoinDesk, the U.S. House of Representatives will hold a “Crypto Week” next week to delve into digital asset policy, with the Ways and Means Committee set to focus on cryptocurrency taxation. On Wednesday, House Ways and Means Committee Chairman Jason Smith announced that the Oversight Subcommittee will hold a hearing on July 16 to discuss proactive measures for establishing a digital asset tax policy framework.

Following the regulation of the cryptocurrency market and stablecoins, crypto taxation is expected to become the next major topic in Congress. Next week may see two legislative actions, including a House vote on the Senate-passed bill regulating stablecoin issuers. Currently, U.S. cryptocurrency tax policy remains uncertain, making calculations complex for investors. Last week, Senator Cynthia Lummis introduced a new bill proposing tax exemptions for small transactions and the elimination of double taxation. The House’s intentions are still unclear, but the Republican-led committee is seeking to advance crypto-friendly policies.