U.S. Senate may release crypto tax legislation as early as fall 2026
Senate Republican tax drafter Steve Daines said the framework is largely complete, resembles a House committee version, and could advance to a markup later this year.
The U.S. Senate could release a cryptocurrency tax legislation framework as early as this fall, with Senate Republican tax drafter Steve Daines saying the effort is largely complete. Daines said the Senate approach is "more similar than different" to a version previously issued by the House Ways and Means Committee and said he hopes a markup can be held this year. The update adds an early indication of how closely Senate Republicans may align with the House on digital-asset tax policy, though no legislative text or detailed provisions were disclosed. The eventual effect on compliance, reporting, transaction treatment, and broader market structure will depend on the substance of the proposal once it is released.
- cryptocurrency tax legislation: Proposed tax rules governing how digital-asset activity is treated under tax law
- markup: A committee session where lawmakers debate, amend, and advance legislation
- digital-asset tax policy: Rules and approaches used by governments to tax crypto-related transactions and holdings