U.S. lawmakers are set to hold a closed-door bipartisan meeting this week to discuss cryptocurrency taxation, signaling that digital asset tax legislation may be moving back onto Congress’ agenda as broader crypto rules advance in the Senate.
According to Bloomberg Tax, the House Ways and Means Committee is expected to hold the member-only meeting on Thursday, with people familiar with the panel’s plans saying the session will focus on crypto tax issues.
Crypto tax rules regain bipartisan attention
Crypto taxation remains one of the tougher pieces of the digital asset agenda, covering reporting rules, rewards, staking income and transaction gains, issues that often need bipartisan support to move through Congress.
The meeting would bring crypto tax policy back into focus after market-structure legislation dominated Washington’s digital asset agenda over the past several months.
While the meeting is expected to be preliminary, its bipartisan structure could signal a broader effort to shape crypto tax rules across party lines.
Meeting comes as CLARITY act advances
The tax discussion comes as the Senate Banking Committee prepares to take up the Digital Asset Market Clarity Act, known as the CLARITY Act, in a markup expected on May 14.
The bill, H.R. 3633, is designed to create a federal market-structure framework for digital assets by clarifying the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Supporters say the measure would help resolve years of uncertainty over whether certain tokens should be treated as securities or commodities, while opponents, including major banking groups, have warned that provisions tied to stablecoin rewards could let crypto firms draw deposits away from traditional lenders and create new risks for the banking system.
The bill passed the House in 2025 and was later referred to the Senate Banking Committee. A markup would allow senators to debate the text, consider amendments and decide whether the measure should advance toward a full Senate vote.
Banks and crypto firms clash over stablecoin rules
The debate has turned into a broader fight over who will shape the next phase of digital finance, with banks pressing for tighter guardrails while crypto advocates warn that heavy restrictions could protect incumbents and hold back newer market players.
Senator Bernie Moreno has pushed back against the banking industry’s objections, arguing that large financial institutions are resisting digital asset reforms because stablecoins and blockchain-based systems threaten their long-standing control over payments and deposits.
Taken together, the tax meeting and Senate markup suggest Congress is widening its crypto agenda beyond market oversight and into tax rules, aiming to give lawmakers a fuller framework for both crypto market rules and tax obligations.
