BGOV OnPoint: Crypto Tax Proposals Diverge on Scope of Overhauls

Momentum is building in Congress to update the IRS’s treatment of digital assets, but just how generous and expansive those changes are for both crypto traders and industry players remain in flux.

A bipartisan duo on the House’s tax-writing panel — Reps. Max Miller (R-Ohio) and Steven Horsford (D-Nev.) — unveiled a draft measure in March aiming to relax IRS reporting requirements for small transactions with stablecoins, allow temporary tax deferrals for crypto stakers, and apply loss-deduction rules to certain digital asset trades.

The bill follows a proposal from Sen. Cynthia Lummis (R-Wyo.) that would go further, exempting tax-reporting requirements ...