Bitcoin.com reported that the U.S. House Ways and Means Committee is pushing for a bill (H.R. 10357) that would exempt cryptocurrency transactions under $10 from taxes. However, users whose asset transfer count exceeded 5,000 in the previous year will be excluded from the exemption. A separate bill being simultaneously pursued includes provisions applying 'wash sale' rules, which prevent using losses from selling and immediately repurchasing cryptocurrencies for tax deductions.
