The U.S. House Ways and Means Committee plans to review two crypto tax bills on Sept. 16.The Mining...

The U.S. House Ways and Means Committee plans to review two crypto tax bills on Sept. 16.The Mining and Staking Tax Clarity Act would defer taxes on newly generated tokens until disposal, while treating the income as ordinary income. Republicans are reportedly considering removing the deferral provision or limiting it to five years.The Applying Existing Tax Law Anti-Abuse Rules to Digital Assets Act would extend wash-sale and constructive-sale rules to digital assets, while excluding assets earned through mining or staking and eligible U.S. dollar-denominated stablecoins from its scope.If approved, both bills would advance to the House floor.

Source: Wu Blockchain