The Blockchain Association (@BlockchainAssn) is calling on Congress to fix unclear crypto tax rules while the CLARITY Act remains stalled. The industry group says existing rules are difficult
The Blockchain Association (@BlockchainAssn) is calling on Congress to fix unclear crypto tax rules while the CLARITY Act remains stalled. The industry group says existing rules are difficult to follow and need an overhaul.
According to The Block, the group, which represents more than 100 firms, sent a letter on Thursday to Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. It said current tax policy is outdated and unworkable.
The group's proposals include tax exemptions for transactions involving $10 or less in network fees, stronger taxpayer privacy protections and extending wash sale rules to crypto. According to Bitcoin Magazine, the letter also asks for cash treatment for stablecoins, taxation of mining and staking rewards at sale rather than receipt, and broker reporting limited to firms that hold customer assets. It adds a safe harbor for foreign traders on U.S. exchanges, a mark-to-market election and R&D credit eligibility for blockchain development.
Lindsay Fraser, the group's chief policy officer, said in the letter that Americans using digital assets want to follow the law and pay what they owe, but that today's rules are often unclear and unworkable, per The Block. The letter says the rules governing the 67 million Americans who hold digital assets were written for a different era, Bitcoin Magazine reported.
The push is the group's first broad tax campaign since the CLARITY Act failed in the Senate last month. The letter does not endorse a specific bill.
The CLARITY Act is a market structure bill, not a tax measure. DLA Piper noted that the Senate failed to advance it on September 15, 2026, nearly eliminating the chance that a market structure bill is enacted this year. Digital Today reported that the motion to end debate failed with 49 votes in favour and 50 against, and that Senator Thom Tillis filed a motion to reconsider, leaving procedural room to revive the effort.
On the tax side, the House has moved separately. The Digital Asset Tax Certainty Act passed the House Ways and Means Committee last month. Unchained reported that the bill would exclude crypto used to pay network or trading fees of $10 or less from gain or loss calculations, starting in 2028. The Block said the bill is not expected to be taken up again until after the November elections.
With Congress largely out until after the midterms, the timeline for any tax changes remains tight. The Blockchain Association has also launched a site, TaxClarityforAmerica.com, for constituents to contact their representatives, according to Bitcoin Magazine.
The Block: Blockchain Association pushes for crypto tax clarity as broader bill stallsBitcoin Magazine: Blockchain Association Presses Congress On Crypto Taxes As Clarity Act StallsDLA Piper: Senate fails to advance the CLARITY Act
