Crypto Bill Markup at Banking Panel Hints at Potential Tax Moves

Senate panel consideration of landmark cryptocurrency legislation could give momentum to a push from lawmakers seeking consensus on a tax framework.

The Senate Banking, Housing and Urban Affairs Committee is assessing a digital asset bill (H.R. 3633) after it stalled over clashes on issues such as stablecoin yields and ethics concerns. Banking’s markup, along with rumblings from House tax writers that they may be putting the finishing touches on their own crypto bill, indicates that legislation addressing taxation could move into the fast lane this Congress as a potential midterm legislative freeze nears.

That’s if the legislation gets ...