House crypto tax bill offers $10 fee exemption, tightens wash sale rules - Crypto News

A new House proposal would reshape how crypto transactions are taxed, pairing a small-transaction carve-out with stricter loss-claiming rules. The bill would exempt fees on transactions of $10 or less, a nod to crypto's use in everyday payments, where per-transaction costs can otherwise create outsized tax accounting burdens. At the same time, it would tighten wash sale rules for digital assets—provisions that currently bar taxpayers from claiming a loss after repurchasing a substantially identical security within 30 days.

The significance is twofold. First, the $10 threshold signals lawmakers are weighing crypto's payments use case, not just its investment role. Second, extending wash sale treatment to crypto would close a planning gap many investors have used to realize losses while maintaining exposure.

What to watch: whether the $10 exemption is per-transaction or aggregated, how "substantially identical" is defined for tokens, and whether the bill advances beyond committee. Tax treatment remains a live policy variable, and any final language could differ materially from the introduced text.