Congress quietly cuts taxes on crypto traders while ordinary investors pay the bill
H.R. 10357 — Digital Asset Tax Certainty Act · Filed by Jason Smith (R-MO) · 8 cosponsors · Introduced Sep 14, 2026 · Referred to committee
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What it does
This bill creates new tax rules for digital assets (cryptocurrencies and tokens) to reduce reporting burdens and align their treatment with traditional securities. It allows small transaction fees under $10 to be tax-free, lets investors elect simplified accounting for widely-held digital assets, treats U.S. dollar stablecoins as currency-like for tax purposes, and extends securities-lending rules to digital assets. The bill benefits digital asset traders and investors by lowering compliance costs and deferring or eliminating tax on small transactions.
Why we flagged it
The bill's operative mechanism is a series of tax exemptions, deferrals, and simplified accounting rules that reduce taxable income for digital asset traders and investors. While framed as 'tax certainty,' the substance is preferential tax treatment for a narrow asset class.
What the text implies
- Section 1044's $10 de minimis threshold for transaction fees may incentivize structuring of transactions to stay under the cap, reducing tax compliance without clear anti-abuse safeguards beyond regulatory authority.
- Section 1051's simplified accounting election allows investors to defer detailed gain/loss tracking and recognize only net annual gain/loss, potentially obscuring wash-sale patterns and related-party transactions that would be visible under traditional accounting.
The full analysis lists 5 implications of this text.
Who stands to gain
digital asset traders and dealers; cryptocurrency exchanges and custodians; digital asset investment funds