Proposed legislation targeting the timing of taxes on newly generated tokens and anti-abuse measures for digital assets faces a committee vote this week. The U.S. House Ways and Means Committee will review the Mining and Staking Tax Clarity Act and the Applying Existing Tax Law Anti-Abuse Rules to Digital Assets Act on Sept. 16. One measure allows taxpayers to defer taxes on newly generated tokens until they are sold, though Republicans may cap that deferral at 5 years. The second bill extends wash-sale and constructive-sale rules to digital assets, excluding assets earned through mining or staking and some U.S. dollar-denominated stablecoins.

Proposed rules prohibit investors from selling assets within 30 days of a purchase to claim a tax loss and exempt network fees of $10 or less from being taxable events. The package includes a 24 month voluntary disclosure program with penalties ranging from 0% to 50% and eliminates the qualified appraisal requirement for donating traded crypto to charity. If approved by the committee, both measures advance to the House floor for a final vote.