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Senate Crypto Tax Bill Could Land by Fall 2026, Daines Says
Sen. Steve Daines said a crypto tax framework is drafted and could see a markup this year. The Senate plan tracks closely with House work on staking, mining, and small-transaction rules.
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Sen. Steve Daines (R-Mont.) said the Senate could release a cryptocurrency tax bill as early as this fall, with a framework already drafted and broadly aligned with a parallel House effort.
Daines, a member of the Senate Finance Committee, told Bloomberg Tax that lawmakers are further along than many assume. "We've gotten a framework put together," he said, adding that he was hopeful a markup could happen this year. A markup is the first formal step toward turning a framework into a bill the full chamber could consider.
He described the Senate's approach as "more similar than not" to what the House Ways and Means Committee has released. That committee has been preparing its own legislation to address questions current law leaves ambiguous, including the treatment of staking rewards, mining income, and small transactions. Aligning the two efforts early could smooth the path to a final bill.