Crypto Tax Policy in Spotlight as House Plans July 16 Hearing

As U.S. lawmakers gear up for what’s being dubbed “Crypto Week,” the House of Representatives is turning its focus to a long-standing industry concern: taxation of digital assets.

On July 16, the House Ways and Means Oversight Subcommittee will hold a hearing aimed at outlining a tax policy framework for crypto—a key step toward regulatory clarity in the sector.

Subcommittee Chairman Jason Smith announced the hearing on Wednesday, describing it as an effort to take “affirmative steps” toward a more structured and reliable tax regime for cryptocurrencies. The move comes amid growing momentum in Congress to address digital asset oversight on multiple fronts, including market regulation and stablecoin legislation.

While regulatory bills related to stablecoins and broader crypto markets may take center stage next week, taxation is rapidly gaining equal importance. The lack of a consistent tax framework has left investors in a gray zone, struggling with compliance and uncertainty. Until Congress resolves how crypto activities—like staking, airdrops, and micro-transactions—are taxed, many argue that innovation and adoption will remain stifled.

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This week’s developments follow the introduction of a new bill by Senator Cynthia Lummis. Her legislation also aims to eliminate double taxation for rewards earned through staking, mining, and similar mechanisms—proposing taxation only upon final sale rather than receipt.

Together, these coordinated efforts in both chambers signal that lawmakers are beginning to understand the urgency of tax clarity for digital assets. Whether the House hearing will lead to a concrete legislative path remains to be seen, but momentum appears to be building toward long-overdue reforms in how crypto is treated by the IRS.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.