The US House Ways and Means Committee passed the Digital Asset Tax Clarity Act (H.R.10357) by a vote of 38-5, sending it to the full House, CoinDesk reported. The bill aims to ease the tax reporting burden for everyday small payments using cryptocurrencies and to specify tax standards applicable to digital asset income recognition, asset transfers, wash sales, mining/staking, and brokers. Notably, it includes a provision for a $10 tax exemption for small transactions.
