Key Highlights
- Blockchain Association backed bipartisan efforts for digital asset tax reform in Congress.
- The group urged lawmakers to introduce clearer tax rules for crypto users and firms.
- The letter emphasized that tax clarity is essential for innovation, compliance, and U.S. competitiveness.
The Blockchain Association today expressed support for bipartisan efforts to advance digital asset tax legislation in the U.S. Congress, urging lawmakers to pursue crypto tax reform.
In a letter addressed to House Committee on Ways and Means Chairman Jason Smith (R-MO) and Ranking Member Richard Neal (D-MA), the organization stressed the need for tax clarity in order for blockchain technologies and digital assets to grow responsibly.
The letter stated that while lawmakers have focused on digital asset market structure and stablecoin regulation, a modernized tax framework is also necessary. “Tax clarity is foundational to responsible innovation, taxpayer compliance, and U.S. competitiveness,” the association wrote.
Push for modernizing tax treatment
The letter was signed by Summer Mersinger, chief executive officer of the Blockchain Association. The organization urged lawmakers to consider its “Principles on Digital Asset Tax Policy,” which outline a broader approach for modernizing the tax treatment of digital assets.
The association further urged Congress to provide clear, bipartisan rules to support compliance and safeguard taxpayers. If not done so, it can leave taxpayers and innovators operating under an outdated and ambiguous framework.
Both the Senate and the House have been considering legislation concerning digital assets. This association believes that tax reform is the one key thing that has been overlooked and should go hand-in-hand with market structuring to make the U.S. a leader in finance tech.
“Congress can provide clear, bipartisan rules that support compliance, protect taxpayers, and cement America’s role as the global leader in financial technology, or it can leave taxpayers and innovators operating under an outdated and ambiguous framework,” the letter stated.
Digital asset taxation has remained a contentious issue for years. Under current IRS guidance, most cryptocurrency transactions are treated as property transactions and are therefore subject to capital gains taxes.
Filing with the FDIC for stablecoin rules
In a similar effort, the Blockchain Association recently submitted a comment letter to the FDIC regarding proposed rules for payment stablecoin issuers as per the GENIUS Act.
The letter, filed on May 18, emphasized the need for regulations that promote innovation and ensure safety and soundness. Among other things, the Blockchain Association requested the FDIC to strictly follow the provisions of the GENIUS Act without introducing any extra regulatory requirements.
Key concerns raised included segregated reserves, ownership structures, operational controls, and the use of blockchain infrastructure by approved payment stablecoin issuers under the proposed rules.
Focus on coordinated regulatory and taxation regime
The latest push comes amid broader efforts in Washington to establish crypto-related legislation. With Republicans controlling the House and discussions continuing within the Senate Finance Committee, the industry sees a potential opportunity for legislative progress in 2026.
Whether lawmakers act on the appeal remains uncertain. However, the association’s latest move adds to growing industry pressure for a coordinated regulatory and taxation framework that supports innovation while maintaining oversight.
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