House tax panel advances seven crypto tax bills as industry urges Senate Clarity Act vote

U.S. lawmakers have reopened debate over digital-asset taxation through seven separate crypto tax proposals as pressure builds in the Senate to move the Clarity Act before the August recess. The House Ways and Means Committee has been advancing draft measures split from the Digital Asset PARITY Act, with testimony from Fidelity, Coinbase, Coin Center and New York University. The bills address stablecoins, staking, mining, lending and tax relief for small transactions, and are being watched as a potential step toward easing compliance burdens for crypto users and companies. Separately, more than 200 crypto-industry signatories, including Coinbase, Ripple, Kraken, Circle, Binance US and Andreessen Horowitz, joined trade groups led by Stand With Crypto in a June 7 letter urging Senate Majority Leader John Thune and Democratic Leader Chuck Schumer to bring the market structure bill to the floor before the upcoming August recess. The coalition said the CLARITY Act would clarify responsibilities between the SEC and CFTC, create registration pathways for market participants and extend legal protections to software developers. The push has drawn support from Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, Treasury Secretary Scott Bessent and Senator Cynthia Lummis, while critics including JPMorgan Chase CEO Jamie Dimon and law professor Hilary Allen have warned about consumer-protection, anti-money-laundering and systemic-risk concerns. The Senate Banking Committee approved the bill 15-9 on May 14, and it still needs 60 votes on the Senate floor in a crowded legislative calendar.