🚨 Crypto Tax Showdown: House Committee Sets July 16 Hearing That Could Reshape Digital Asset Rules

Washington's crypto reckoning is coming—and it's wearing a suit.

The Taxman Cometh (Again)

Mark your calendars for July 16, when House lawmakers drag crypto taxation into the spotlight. This isn't just another bureaucratic hearing—it's a potential turning point for how digital assets get treated by Uncle Sam.

Why This Time Might Be Different

With midterms looming and crypto voters becoming a measurable bloc, politicians suddenly care about 'getting Web3 right' (translation: they want campaign donations without alienating either Silicon Valley or Wall Street).

The Billion-Dollar Question

Will regulators finally acknowledge blockchain's transparency advantages? Or just slap on more reporting requirements while traditional finance keeps hiding assets offshore? Place your bets—the house always wins.

BlackRock’s IBIT Bitcoin ETF Surpasses 700,000 BTC in Record Time

This week’s developments follow the introduction of a new bill by Senator Cynthia Lummis. Her legislation also aims to eliminate double taxation for rewards earned through staking, mining, and similar mechanisms—proposing taxation only upon final sale rather than receipt.

Together, these coordinated efforts in both chambers signal that lawmakers are beginning to understand the urgency of tax clarity for digital assets. Whether the House hearing will lead to a concrete legislative path remains to be seen, but momentum appears to be building toward long-overdue reforms in how crypto is treated by the IRS.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.

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