House Ways and Means Committee to Review Seven Crypto Tax Reform Proposals This Tuesday

According to ChainCatcher, the House Ways and Means Committee will hold a hearing this Tuesday on seven cryptocurrency tax reform draft proposals, covering stablecoin trading, mining and staking, crypto lending, wash-sale rules, charitable donations, and taxpayer disclosure requirements.

Meanwhile, Senate negotiations on the Clear Act are progressing, with Senator Lummis indicating the bill is more likely to advance after Congress reconvenes on July 13. Core disagreements center on moral clauses, DeFi regulatory language, and stablecoin yield provisions. Over 200 crypto organizations have signed a letter urging expedited passage of the bill, while the banking industry continues lobbying against stablecoin yield provisions.