The House Ways and Means Committee will consider legislation on Wednesday that would exempt certain crypto transaction fees from capital-gains calculations and apply new federal tax rules to stablecoins, staking, mining, and digital asset trading.

Committee Chairman Jason Smith, R-Mo., introduced the 114-page Digital Asset Tax Certainty Act, or H.R. 10357. The committee has scheduled its markup for 10 a.m. Eastern on Sept. 16. During a markup, committee members debate a bill, propose amendments, and decide whether to advance it to the full House.

At the center of the legislation is a "de minimis" exemption for qualifying network or transaction fees of $10 or less. "De minimis" refers to amounts considered too small to require standard tax treatment. Because the Internal Revenue Service treats digital assets as property, paying a blockchain fee with crypto can itself create a taxable event, so taxpayers generally need to track the cost basis of the crypto they spend and report any resulting gain or loss. The exemption would allow taxpayers to disregard gains or losses on eligible fees.

Lawmakers examined small-transaction exemptions and six other crypto tax proposals during a June hearing on digital asset taxation. Wednesday's markup follows that review.

The bill would also use the redemption value of qualifying dollar-pegged stablecoins as their tax basis when purchased near that value, tax mining and staking rewards as ordinary income, and allow certain investment trusts to stake assets without jeopardizing their tax status.

An earlier proposal backed by crypto industry groups would have deferred income recognition for some newly created mining and staking rewards, but that provision is absent from H.R 10357.

Additional provisions would extend wash-sale rules to digital assets. Such rules currently apply to stocks and securities and disallow losses when an investor acquires the same or a substantially identical asset within 30 days before or after a sale. The bill would also exempt qualifying crypto loans from being treated as sales and establish a Treasury program allowing eligible taxpayers to amend past returns and pay outstanding taxes, interest, and penalties.

Proposed exemptions for small fees and simplified accounting would begin in 2028, leaving current tax treatment in place until then.

Committee members can propose amendments during Wednesday's markup, and any that are adopted could alter the bill's provisions before it advances. To become law, the proposal must clear the committee and win approval from the House, Senate, and President.