Blockchain Association Presses Congress on Crypto Tax Rules

The Blockchain Association sent a letter dated October 22, 2026 to the four top leaders of Congress asking for bipartisan digital asset tax legislation, citing an estimated 67 million Americans who hold or use crypto. The letter went to Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries, according to Coincentral.

The trade group, which represents more than 100 firms, argues that the present code was not built for digital assets and produces compliance costs for ordinary users. Lindsay Fraser, the association’s chief policy officer, said users are not seeking favorable treatment and simply want workable rules. The group also launched TaxClarityforAmerica.com so constituents can contact their representatives, Cryptobriefing reported.

Key facts

• The letter was sent Thursday, October 22, 2026, to Thune, Schumer, Johnson and Jeffries.
• The House Ways and Means Committee approved the Digital Asset Tax Certainty Act, H.R. 10357, by a 38-5 vote on September 16, 2026, per Cryptobriefing.
• That bill would set a threshold so network fees of $10 or less do not trigger tax, Coincentral reported.
• The Senate introduced the ADAPT Act on September 30, 2026, two weeks after the House committee vote, Cryptobriefing reported.
• The Clarity Act stalled in the Senate after failing its first procedural vote in September.

What the group is asking for

Cryptobriefing reported that the letter sets out 10 principles rather than endorsing a particular bill. They include a de minimis exemption so small transactions such as buying a coffee do not require gain-and-loss tracking, and a carve-out so moving assets between wallets the same person controls is not taxed, including transfers across blockchain bridges.

The association also wants wash sale rules extended to digital assets, which would block investors from claiming a loss and quickly repurchasing. On staking and mining, it proposes treating rewards as self-generated property taxed on sale rather than receipt, sourced from the taxpayer’s location rather than the validator’s, according to Coincentral.

Other requests include treating stablecoins like cash, limiting Form 1099-DA broker reporting to firms that hold or control customer assets, a safe harbor for foreign investors on US exchanges, optional mark-to-market accounting, relief from appraisal rules for charitable gifts of regularly traded crypto, and research and development credits, which Cryptobriefing noted speaks to builders as well as holders. The group also wants crypto permitted inside retirement accounts and staking allowed within grantor trusts, partnerships and regulated investment vehicles. Ambcrypto reported that the association separately filed a comment letter with the Treasury on proposed GENIUS Act regulations.

Why it matters

The proposals are recommendations, not law, and Ambcrypto noted that any change requires legislative action. For holders, a de minimis exemption and a wallet-transfer carve-out would remove much of the record-keeping that everyday crypto use now creates. For traders, extending wash sale rules would close a loss-harvesting tactic. The association first published its Digital Asset Tax Principles on February 24, 2026, per Cryptobriefing, making Thursday’s letter a renewed push.

What to watch

Action on both bills stalled when Congress left for the midterm elections, and the House tax bill is not expected back until after November. Watch whether House leadership schedules H.R. 10357 for a full vote, whether the Senate’s ADAPT Act picks up co-sponsors, and whether either measure adds the mining and staking relief the industry wants.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: CoinCentral, Cryptobriefing, Ambcrypto