TLDR
- The Blockchain Association sent a letter to top congressional leaders on Thursday asking for new crypto tax rules.
- The group says 67 million Americans hold or use digital assets and current rules are unclear and hard to follow.
- It wants a de minimis exemption, wash sale rules for crypto, and taxes on staking and mining rewards only when sold.
- The Digital Asset Tax Certainty Act passed the House Ways and Means Committee last month but is not expected back until after November elections.
- The broader Clarity Act stalled in the Senate after it failed its first procedural vote last month.
The Blockchain Association is asking Congress to pass new tax rules for digital assets. The crypto industry group sent a letter on Thursday saying current tax policy is unclear and unworkable.
1/ Today, Blockchain Association sent a letter to Senate and House leadership urging Congress to advance thoughtful, bipartisan digital asset tax legislation.
We're also launching https://t.co/QeWIh0v2nV so Americans can make their voices heard.https://t.co/yA9977VATC pic.twitter.com/0fRoPrGgVl
— Blockchain Association (@BlockchainAssn) October 22, 2026
The group represents more than 100 firms. The letter went to Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries.
“Americans who use digital assets aren’t asking for special treatment,” said Lindsay Fraser, the group’s chief policy officer. “They want to follow the law and pay the taxes they owe, but today’s rules are often unclear and unworkable.”
The group said 67 million Americans hold or use digital assets. It argued that existing rules create extra compliance costs for ordinary users.
Where Crypto Legislation Stands
Congress has spent about two years working on broader crypto legislation known as the Clarity Act. That bill stalled in the Senate after it failed its first procedural vote last month.
In the House, lawmakers have moved on the Digital Asset Tax Certainty Act. It passed the Ways and Means Committee last month. The bill would set a threshold so people would not owe taxes on network fees of $10 or less.
That bill is not expected to return until after the November elections. In the Senate, the ADAPT Act was introduced in September.
The association said Congress has made progress on digital asset rules. It added that the work cannot fully succeed without a clear tax framework.
What the Group Is Asking For
The letter lists several requests. The group wants an exemption for small crypto transactions and wants stablecoins treated like cash.
It also asked Congress to ease Form 1099-DA reporting. Broker reporting, it said, should apply only to firms that hold or control customer assets. That would leave out non-custodial software developers and blockchain infrastructure providers.
On staking and mining, the group wants rewards treated as self-generated property. They would be taxed when sold, not when received. The group also said rewards should be sourced from the taxpayer’s location, not the validator’s.
Transfers between wallets owned by the same person should be tax-free, the group said. That would include transfers across blockchain bridges. Smart contract transactions would not trigger taxes if economic ownership and market exposure stay the same.
The group also backs applying wash sale rules to crypto. These rules stop investors from claiming a loss on an asset and quickly buying it back.
Other requests include a safe harbor for foreign investors trading on US exchanges. The group also wants staking allowed within grantor trusts, partnerships and regulated investment vehicles. It asked for optional mark-to-market accounting for assets with readily available prices.
For charitable gifts, it wants to remove costly appraisal rules for regularly traded crypto. Its push also lines up with industry efforts to overturn Illinois’ 0.2% tax on digital asset transactions.
The group said the principles would help keep financial innovation and jobs in the United States. Lawmakers are not expected to take up the House tax bill again until after the November elections.
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