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

A newly introduced House bill would make two notable changes to how cryptocurrency transactions are taxed. First, it proposes a de minimis exemption that would exclude gains on transactions with fees of $10 or less from taxation — a threshold meant to spare everyday users from calculating tax on small purchases. Second, it would extend wash sale rules, which currently apply to stocks and securities, to digital assets.

The wash sale provision is the more consequential piece. Under existing rules, investors cannot claim a loss on a security if they repurchase a substantially identical one within 30 days. Crypto has so far sat outside that framework, allowing loss harvesting strategies that would be disallowed in equities. Applying the same standard would narrow that gap and could change how some market participants time sales.

For observers, the key question is whether the bill advances beyond introduction, since most proposed legislation does not become law. If it does move, watch how the $10 threshold is defined and whether the wash sale language mirrors the securities rule exactly. Both details would shape compliance costs for exchanges and individual filers alike.