US House Reviews Crypto Tax Bill, Strategic Bitcoin Reserve Measure

The US House of Representatives has begun reviewing legislation on cryptocurrency taxation and a strategic Bitcoin reserve.

According to Odaily and other outlets, the House Ways and Means Committee began markup of the Digital Asset Tax Certainty Act at 11 p.m. Korea Standard Time on September 16. A markup is the stage in which a congressional committee conducts its final review before sending a bill to the full House.

The bill would revise the tax treatment of small crypto rewards, US dollar stablecoin transactions and the calculation of gains and losses on major cryptocurrencies. It also includes provisions aimed at improving tax parity with traditional finance assets, including rules on asset transfers under crypto lending agreements and safe harbors.

The House Financial Services Committee is also reviewing the American Reserve Modernization Act, introduced in May by Republican Representative Nick Begich. The bill's core provision is the creation of a Strategic Bitcoin Reserve and a separate reserve for cryptocurrencies other than Bitcoin under the US Treasury Department.

The measure would require the government to store Bitcoin acquired through seizures and other procedures more systematically and to disclose its holdings regularly.

Even if the Digital Asset Tax Certainty Act and related measures clear committee markup, they would still need approval by the full House and the Senate, as well as the president's signature, before becoming law.