A key committee in the U.S. House of Representatives is preparing legislation to build a tax structure for cryptocurrencies.

On June 5th, Bloomberg reported that the U.S. House Ways and Means Committee is preparing legislation to establish a tax structure for cryptocurrencies. This legislation is expected to be released as early as Friday, with hearings scheduled for early next week. Committee Chairman Jason Smith has prioritized the development of a tax framework for digital assets, and the Treasury Department is also participating in this process. The committee is anticipated to release seven bills covering various aspects, including: * The taxation of tokens acquired through mining or staking. * Exempting certain stablecoin transactions from capital gains tax. * Ensuring equal tax treatment for digital assets and securities, including charitable donations. * Allowing foreign investors to trade U.S. securities without these being considered safe harbors for domestic corporate taxation. * Extending anti-money laundering rules to digital assets.