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      U.S. Congress Advances Crypto Tax and Reserve Bills

      On September 16, 2026, the U.S. House Ways and Means Committee approved the Digital Asset Tax Certainty Act (H.R. 10357) with a vote of 38-5, moving it forward to the full House for consideration. This legislation aims to extend existing stock-market wash-sale rules to digital assets, addressing a loophole that has allowed cryptocurrency holders to sell at a loss, claim tax deductions, and immediately repurchase the same assets. Additionally, the bill includes provisions exempting capital gains reporting on network fees under $10.

      In a parallel development, the House Financial Services Committee reviewed the American Reserve Modernization Act (H.R. 8957), which seeks to formalize the Strategic Bitcoin Reserve established by a previous executive order. However, the outcome of this committee's vote has not yet been officially recorded, and it is important to note that it has not yet passed. If enacted, the bill would lock the approximately 198,000 Bitcoin currently held by the government for a minimum of 20 years, prohibiting any sales or exchanges during that time and requiring regular third-party audits to verify the reserve.

      The passage of the Digital Asset Tax Certainty Act marks a significant step in regulating cryptocurrency taxation in the United States. Meanwhile, the American Reserve Modernization Act, if it progresses, would create a more permanent framework for the government's Bitcoin holdings, making it more challenging for future administrations to alter these policies without legislative action. Both bills reflect ongoing efforts by U.S. lawmakers to establish clearer guidelines for the rapidly evolving cryptocurrency landscape.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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