- U.S. House lawmakers set a hearing for July 16 to discuss a digital asset tax policy framework.
- The hearing is connected to upcoming votes on three crypto-related bills.
- The Senate recently held its own review on crypto market structure, featuring industry leaders.
- Key legislation includes bills about stablecoins, CBDCs, and digital asset market rules.
- Major bills, such as the GENIUS Act and Anti-CBDC Surveillance State Act, are moving through Congress but remain unsettled.
Lawmakers on the U.S. House Committee on Ways and Means and the Oversight Subcommittee will hold a hearing on July 16 to review steps for establishing a tax policy framework for digital assets. The event takes place as House representatives consider a series of bills concerning central bank digital currencies (CBDCs), stablecoins, and crypto market structure.
According to a notice from committee leadership, the session titled “Ensuring Digital Asset Policy Built for the 21st Century” will look at current tax policies related to digital assets. The hearing follows recent discussions in the Senate Banking Committee, which featured testimony from Ripple CEO Brad Garlinghouse, Blockchain Association CEO Summer Mersinger, and Chainalysis CEO Jonathan Levin.
It remains unknown who will testify at the upcoming House hearing. Republican lawmakers in both the House and Senate are pursuing different approaches to regulating the crypto and blockchain industries. For example, Senator Cynthia Lummis of Wyoming recently proposed a measure to end double taxation for crypto miners and stakers during a debate on President Trump’s budget bill. While the provision was not included in the final law, Lummis submitted a separate draft bill focused on digital asset taxation shortly after.
The week ahead is expected to feature broad legislative action on crypto issues, known as “crypto week.” Lawmakers will discuss the GENIUS Act, which covers payment stablecoins; the Anti-CBDC Surveillance State Act, targeting the use of central bank digital currencies; and the Digital Asset Market Clarity (CLARITY) Act, focused on defining market rules. The GENIUS Act, which passed in the Senate in June, awaits a full House vote. Former President Donald Trump has urged passage of a “clean” version of the bill without additional amendments.
Senate leadership also intends to move forward with its own crypto market structure plans and has scheduled action for September. Despite different versions of the Anti-CBDC Surveillance State Act being introduced in both chambers, neither bill has become law.
For more information on the upcoming hearing, visit the U.S. House Committee on Ways and Means.
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