The House Ways and Means Committee approved the Digital Asset Tax Certainty Act on Wednesday, sending a proposal to overhaul cryptocurrency taxation to the full House.

The proposal covers transaction fees, stablecoins, mining, staking, and lending. The committee announced the markup on Monday, scheduling a session for lawmakers to review H.R. 10357, consider amendments, and vote on whether to advance the measure to the House floor.

“This wasn’t built overnight,” committee Chairman Rep. Jason Smith (R-Mo.) said in a statement, crediting more than a year of bipartisan work. “The legislation before us today is the product of that work, bringing clarity, parity, and workability to digital asset taxation and helping keep the United States the crypto capital of the world, instead of pushing that innovation, and the jobs that come with it, offshore,” Smith said.

For crypto users, the proposal would remove gain-or-loss calculations on qualifying network or transaction fees of $10 or less. Paying such fees with tokens can trigger tax accounting because digital assets are treated as property. The relief would begin in 2028, meaning current tax treatment would continue until then, and would apply to eligible fee payments, not to small crypto purchases generally.

The bill would also simplify tax calculations for qualifying dollar stablecoins traded near their redemption value, classify mining and staking rewards as ordinary income, and allow certain investment trusts to stake assets without losing their tax status solely for doing so. It excludes an earlier proposal that would have let taxpayers defer recognition of some mining and staking rewards.

The measure would additionally extend wash-sale rules to traded digital assets generally delaying loss deductions when investors acquire substantially identical assets within 30 days before or after selling. Those rules already apply to stocks and securities, so the provision would bring traded digital assets under the same framework. Qualifying crypto loans would not be treated as sales, and eligible taxpayers could correct past returns through a new disclosure program, according to the Joint Committee on Taxation.

The tax bill advanced a day after the Senate failed to move forward with the separate Clarity Act, which addresses crypto market oversight, underscoring how tax policy and market-structure rules are moving on distinct congressional tracks. The SEC and CFTC have since pledged to pursue crypto rules under their existing powers.

The tax proposal still requires approval from both chambers of Congress in identical form and the president’s signature before becoming law. Until then, existing tax treatment of digital assets remains in place.

“I look forward to building on that work as we move these policies forward,” Smith said.