House Committee Releases Comprehensive Crypto Tax Bill Before Markup Vote

WHY IT MATTERS

When you earn money or sell investments in the United States, you typically owe taxes. But the rules for how crypto is taxed have been unclear in many areas. For example, if you earn crypto through staking — which is a bit like earning interest in a savings account — it has not always been obvious when or how that income should be reported. A comprehensive tax bill from Congress could establish clearer rules, which would affect anyone in the U.S. who buys, sells, earns, or holds cryptocurrency. A "markup" is the stage where a congressional committee goes through a bill line by line, debates it, and votes on changes before deciding whether to send it to the full chamber for a vote.