The Ways and Means Committee voted against advancing the Digital Asset Tax Certainty Act on Sept. 16. The proposed legislation would have removed capital gains taxes on small digital asset transactions to provide relief and clarity for retail traders.

The decision follows the US Senate's progress on the Clarity Act and coincides with a House review of the American Reserve Modernization Act, which seeks to lock $25 billion in government-held Bitcoin for 20 years. This result halts the House's effort to establish a statutory tax framework for cryptocurrency.