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Crypto Tax Bill Clears House Committee After Clarity Act Setback
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- DeepHorus
A cryptocurrency tax bill cleared a U.S. House committee, restoring momentum to digital-asset legislation after the CLARITY Act suffered a setback. The committee's approval, reported by Decrypt, keeps tax policy for digital assets moving through Congress even as the broader market-structure debate remains stalled.
The CLARITY Act had been positioned as the centerpiece of U.S. crypto regulation, defining how tokens are classified and which agency oversees them. Its setback left industry advocates searching for alternative vehicles. The tax bill became that vehicle, advancing on its own track.
Markets showed modest gains as the news circulated. Bitcoin traded at $76,627.00, up 1.14%, while Ethereum changed hands at $2,445.48, up 1.85%. Solana rose 3.53% to $100.59, and XRP gained 1.68% to $1.31. Major stablecoins including USDC and USDS held near their $1 peg.
Tax treatment ranks among the industry's most persistent complaints. Firms argue that unclear reporting requirements for gains, staking rewards and payments expose users to compliance risk. A dedicated statute would provide rules that guidance and enforcement actions have not settled.
The committee's action does not guarantee floor consideration, and the bill's scope remains narrower than the CLARITY Act's. Supporters describe it as a targeted, achievable step. Critics counter that piecemeal legislation leaves the central question of jurisdiction unanswered.
Some tokens posted sharper moves. Zcash climbed 15.67% to $1,376.44, and Near gained 16.64% to $2.80. Uniswap rose 10.36% to $6.92. The broader market's reaction suggested the committee vote was noted but not treated as decisive.
Attention now turns to whether the full chamber takes up the tax measure and whether the CLARITY Act can be revived in amended form. Industry observers say the two tracks may eventually converge, though timing remains uncertain and the legislative calendar is crowded.
