House tax committee advances crypto tax bill after CLARITY Act loss

The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act, a fledgling crypto tax bill that would exempt crypto transactions under $10 from taxes and clarify staking, mining and broker rules. The markup moves the package forward in the wake of the Senate's failure to advance the CLARITY Act, the market-structure bill that fell short of the 60 votes needed.

• The bill targets everyday, low-value crypto use rather than institutional activity.
• Trump's industry ties spurred some pushback during the committee's consideration.
• No floor vote timing or final text details were disclosed in the initial update.