Blockchain Association Urges Congress for Crypto Tax Clarity

crypto tax clarity — The Blockchain Association has called on U.S. congressional leadership to pass bipartisan digital asset tax legislation, marking a renewed push after the failure of the broader Clarity Act last month.

In a letter sent Thursday to Senate and House leaders, the industry group argued that current tax rules for the estimated 67 million American digital asset holders “were written for a different era.” The association’s requests include a de minimis exemption for small transactions, cash accounting treatment for stablecoins, and taxing mining and staking rewards at the point of sale rather than receipt.

The lobbying effort comes as two major tax bills are in play but stalled. The House Ways and Means Committee approved a 114-page package in September, while a Senate version, the ADAPT Act, was introduced by Sen. Steve Daines at the end of last month. Neither bill currently contains a broad exemption for small bitcoin purchases, a key industry request.

Congress is currently in recess until after the November midterm elections, leaving only a brief lame-duck session for action. The push follows the collapse of the Clarity Act, a broader market structure bill, which failed a key Senate vote in September, prompting the industry to shift its focus to tax policy as a more viable legislative target.