US crypto tax bills advance toward markup

TLDR

US lawmakers are preparing to debate two major crypto tax bills that could reshape how mining, staking and trading are taxed in the United States.

1. The House Ways and Means Committee is reported to be marking up H.R. 9175 and H.R. 9172 on 16 September, but official scheduling remains only partially confirmed.
2. H.R. 9175 would let eligible miners and stakers defer income on new tokens until sale, while H.R. 9172 would extend wash-sale and constructive-sale rules to most digital assets.
3. Even if the committee advances the bills, they must still clear the full House, the Senate and possible amendments, so current IRS guidance and existing tax rules continue to apply.

Deep Dive

1. What Is Moving Toward Markup

Reporting indicates the House Ways and Means Committee plans a 16 September session to review two crypto tax bills, H.R. 9175 and H.R. 9172, with a view to marking them up for a full House vote. One detailed summary notes that the committee "will review the 'Tax Clarity for Mining and Staking Act' (H.R. 9175) and a related anti-abuse bill (H.R. 9172) on September 16%%CKPROTECTED3%%, citing WuBlockchain as the primary source.

At the same time, other coverage stresses that no formal committee notice has yet appeared and describes the date and format as reported rather than fully verified, including whether the session will be a hearing, a markup or a vote. That means the trajectory is clearly forward, but the procedural details are not fully locked in.

2. How The Bills Would Change Crypto Taxation

H.R. 9175, the Tax Clarity for Mining and Staking Act, would let qualifying miners and stakers elect to defer recognizing income on newly created tokens until they are sold, with the gain taxed as ordinary income at disposal rather than at the moment of creation. Current IRS guidance (Revenue Ruling 2023-14) generally requires staking rewards to be included in income when the taxpayer gains control, so this bill would materially change timing for those who qualify. A Joint Committee on Taxation estimate cited in one analysis puts the revenue loss from H.R. 9175 at roughly $3 billion over 20262036.

H.R. 9172, the "Applying Existing Tax Anti-Abuse Rules to Digital Assets Act", would extend wash-sale and constructive-sale rules to digital assets by replacing "stock or securities" with broader "specified assets". That would block the common strategy of selling a token at a loss and immediately rebuying it to lock in tax losses while keeping exposure. The bill would exclude certain mining and staking rewards and qualified dollar stablecoins, and the JCT estimates it would raise over $2 billion in the same window.

3. Uncertainties, Amendments And Next Steps

Republican members are reported to be debating whether to drop or narrow the open-ended deferral in H.R. 9175, with some floating a five year cap as a compromise and others considering removing the deferral entirely. These changes, if adopted, would significantly alter the benefit for validators and could reduce industry enthusiasm.

If the committee does mark up and approve both bills, they still have to pass the full House, find a path through the Senate and be reconciled with any competing tax measures before reaching the President. Until that happens, existing law, including IRS Revenue Ruling 2023-14, remains in force, and no new crypto-specific wash-sale rules are actually in effect.

Conclusion

US crypto tax policy is moving from abstract debate to concrete bill language, with H.R. 9175 and H.R. 9172 potentially reshaping how block rewards and trading losses are taxed. If they advance, miners and stakers could gain deferral options, while traders face tighter anti abuse rules, but all of this remains contingent on committee decisions, amendments and eventual Senate action. For now, the practical takeaway is to monitor the committee schedule and final text rather than changing behavior based on proposals that are not yet law.