Blockchain Association Urges US Congress to Pass Crypto Tax Rules Under 10 Principles

The Blockchain Association, a trade group claiming more than 100 members, sent an Oct. 22 letter to House Speaker Mike Johnson, House Minority Leader Hakeem Jeffries, Senate Majority Leader John Thune, and Senate Minority Leader Chuck Schumer urging bipartisan digital asset tax legislation. The letter, signed by Chief Policy Officer Lindsay Fraser, states that 67M Americans hold and use digital assets and outlines 10 "Digital Asset Tax Principles" first published on Feb. 24. The association asked lawmakers to introduce a de minimis exemption for small transactions, allow crypto in retirement accounts, and treat stablecoins like cash with relief from Form 1099-DA reporting. The group also called for limiting broker reporting strictly to firms that hold or control customer funds to exclude non-custodial developers, taxing mining and staking rewards only upon disposal, and ensuring wallet-to-wallet transfers or cross-chain bridging are not taxed when ownership does not change. While the letter did not name a specific bill, the House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in September to exclude crypto used for network or trading fees of $10 or less from gain or loss calculations starting in 2028, though broader Senate efforts stalled on Sept. 15 when the Clarity Act failed to reach 60 votes. "Sixty-seven million Americans now hold and use digital assets, yet the rules that govern them were written for a different era." — Blockchain Association Letter