- A bipartisan bill, the PARITY Act, was introduced to modernize digital asset tax rules and promote fairness.
- House Ways and Means Committee Chair Jason Smith insists legislation must have Democratic support to advance.
- The industry anticipates potential passage of two crypto bills in 2026, alongside ongoing GENIUS law rulemaking.
In Washington D.C. this spring, bipartisan momentum is building for landmark cryptocurrency legislation. Key lawmakers from both parties are pushing to establish a clear tax framework for digital assets before the year ends, according to reports. However, House Ways and Means Committee Chair Jason Smith declared any plan must be bipartisan for him to support it.
Consequently, Representatives Steven Horsford and Max Miller introduced the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act. The bill aims to close the wealth gap and provide market certainty, as stated in the announcement. Horsford argued “innovation should not come at the expense of accountability or fairness.”
Meanwhile, Miller emphasized America’s need to remain competitive with a modernized tax code. Negotiations are reportedly on track, with possible passage by year’s end. The committee’s work has intensified alongside Senate action on the CLARITY Act.
Both CLARITY and PARITY are vital for developing a comprehensive regulatory framework. The industry now waits to see if two crypto bills could become law in 2026. Signing them would position digital assets in new territory alongside GENIUS law rulemaking.
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