Bipartisan Tax Writers Float Draft Crypto Tax Legislation

Two House lawmakers are seeking to build a coalition of industry leaders and lawmakers around their legislative approach to regulating the taxation of digital assets.

“We’ve released this draft bill to build momentum as we collaborate with our colleagues across Congress to craft legislation that truly works for everyday people,” said Rep. Steven Horsford (D-Nev.) in a statement to Bloomberg Tax. Horsford is working with Rep. Max Miller (R-Ohio), both of whom are on the tax-writing House Ways and Means Committee.

The discussion draft, released last week, signals the bipartisan duo is seeking support for their model, though it might ...