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Senate zeroes in on crypto tax rules, staking rewards hang in balance
Senate Finance targets fall 2026 for crypto tax legislation as staking reward treatment hangs in the balance. House PARITY Act, stablecoin rules advance on separate track.
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The Senate Finance Committee plans to release dedicated digital asset tax legislation by fall 2026, according to the committee's timeline. That would mark the first time the upper chamber has produced standalone crypto tax language rather than attaching pieces to broader bills.
The committee held a hearing in October 2025 titled "Examining the Taxation of Digital Assets" that Chairman Mike Crapo used to lay out the conceptual stakes. Since then, staff have been working on draft text that addresses three questions: how to treat staking rewards, whether digital assets get the same tax treatment as traditional securities, and what rules apply when no intermediary exists to handle reporting.
The House has already moved on several fronts. The bipartisan PARITY Act (H.R. 8899), introduced in March 2026, tackles stablecoin taxation and updates definitions of digital assets. It's advancing separately from market-structure legislation like the Digital Asset Market Clarity Act (H.R. 3633), which the Senate Banking Committee passed 15-9 on May 14. The parallel tracks mean tax language could land before broader market-structure rules, or after.