US House committee approves crypto tax bill H.R. 10357
- —The committee approved H.R. 10357 by 38-5, with five Democrats opposed
- —The capital gains tax exemption for fees up to $10 takes effect in 2028
- —The exemption does not apply to traders, brokers or those with more than 5,000 transactions per year
- —The bill also extends wash-sale rules to certain digital assets
Why it matters: Narrow tax breaks pass through Congress more easily than comprehensive market regulation, reducing the tax burden on retail users.
Source: Coindoo
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