# 119-hr-10357: Digital Asset Tax Certainty Act 119-hr-10357, Digital Asset Tax Certainty Act, is a 119th Congress bill sponsored by Rep. Smith, Jason [R-MO-8] (R-MO); status in_committee; PRIA reads it as touching household money (as of 2026-10-30). - Canonical: https://policyrisk.com/legislation/119-hr-10357 - As of: 2026-10-30 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-hr-10357 - Congress: 119 - Title: Digital Asset Tax Certainty Act - Status: in_committee - Introduced: 2026-09-14 - Sponsor: Rep. Smith, Jason [R-MO-8] (R-MO) - Cosponsors: 8 - Policy area: Taxation - Touches household money: yes - Last recorded action: 2026-10-30 ## Summary **Tax certainty for digital assets** by folding crypto into established tax rules and creating narrow exceptions and elections for payments, stablecoins, lending, reporting, and validation activities. - Retail users and small-payments users: Small network validation and transaction fees paid in crypto do not trigger gain or loss if they meet a de minimis test, generally capped at $10 per validation or $10 aggregate for certain brokerage fees and subject to volume limits like a 5,000-transfer threshold. - Traders, dealers, and funds: Dealers and traders can elect mark-to-market for covered digital assets and taxpayers may choose a simplified annual accounting method for designated widely traded assets, with gains and losses under that election treated as short-term. - Brokers, compliance, and IRS interactions: The bill expands broker reporting (Sec. 6045), adds backup-withholding-like rules for certain illiquid validation assets, and creates a Digital Asset Voluntary Disclosure Program with penalty tiers such as 25% and 40% for disclosed digital-asset deficiencies. ## Cosponsors (8) - Rep. Arrington, Jodey C. [R-TX-19] (R-TX), 2026-09-14T00:00:00.000Z - Rep. Bean, Aaron [R-FL-4] (R-FL), 2026-09-14T00:00:00.000Z - Rep. Carey, Mike [R-OH-15] (R-OH), 2026-09-14T00:00:00.000Z - Rep. Horsford, Steven [D-NV-4] (D-NV), 2026-09-14T00:00:00.000Z - Rep. Kelly, Mike [R-PA-16] (R-PA), 2026-09-14T00:00:00.000Z - Rep. Kustoff, David [R-TN-8] (R-TN), 2026-09-14T00:00:00.000Z - Rep. Miller, Max L. [R-OH-7] (R-OH), 2026-09-14T00:00:00.000Z - Rep. Yakym, Rudy [R-IN-2] (R-IN), 2026-09-14T00:00:00.000Z ## Provisions PRIA read - Donate crypto and avoid gain: benefit, medium. If enacted, you would not recognize gain on a sale of certain digital assets if you donate all the sale proceeds to charity within seven days or by the end of your tax year. The rule starts for tax years after December 31, 2026 and excludes qualified U.S. dollar stablecoins, some widely traded asse… - No tax on tiny crypto fees: benefit, low. If enacted, the bill would let taxpayers ignore small crypto fees for tax purposes when the fee per transfer is $10 or less and other limits are met. The rule would not apply to traders, brokers, dealers, or people with more than 5,000 transfers in the prior year. Brokers would generally not report… - Limit on taxable gambling losses: cost, high. If enacted, wagering or gambling losses would be deductible only up to the amount of wagering gains for tax years beginning after December 31, 2025. The bill clarifies that deductions tied to wagering activity are limited to wagering gains. - Business technical rules for crypto: cost, medium. If enacted, many digital assets bought after the bill's introduction would not count as Section 197 intangible assets and so would not be amortizable. Digital assets with no fixed maturity would be treated as maturing 25 years after issuance. The bill would also count traded digital assets when tes… - U.S. possession holders must report: cost, low. If enacted, certain residents of U.S. possessions with more than $10,000 in traded digital assets would have to file a notice listing the fair market value and basis of each asset for the prior year. A transition rule requires some taxpayers to give values as of January 1, 2027. If timely informati… - New trader, wash‑sale, and accounting rules: mixed, medium. If enacted, the bill would let dealers elect mark-to-market treatment for covered digital assets and create an annual simplified accounting election for designated widely traded assets starting for tax years after December 31, 2027. It would define when an asset is "widely traded." At the same time… - New stablecoin tax and partnership rules: mixed, medium. If enacted, the bill would define which U.S. dollar stablecoins count as "qualified" and require Treasury to publish a list. For taxable years starting after December 31, 2026, basis for those stablecoins would generally equal their redemption value. The bill would treat some stablecoin lending and… - Staking, mining, and validator taxes: mixed, medium. If enacted, income from staking, mining, or similar validation support would be taxed as ordinary income for tax years starting after enactment. The bill would source validation income to the United States for U.S. residents and outside the U.S. for nonresidents. It would add a withholding-like rul… - IRS disclosure program and guidance: mixed, medium. If enacted, the Treasury must set up a Digital Asset Voluntary Disclosure Program within 12 months. Eligible taxpayers would have 24 months to file amended returns, pay deficiencies plus a tiered penalty, and could get reduced penalties if they certify non-willfulness. The bill also urges Treasury… ## Related bills - 119-hr-1: One Big Beautiful Bill Act - 119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act - 119-hr-452: Miracle on Ice Congressional Gold Medal Act - 119-hr-591: Defending American Jobs and Investment Act - 119-hr-1156: Pandemic Unemployment Fraud Enforcement Act - 119-hr-1301: Death Tax Repeal Act ## Sources - [119-hr-10357 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10357) ## Related - [119-hr-1: One Big Beautiful Bill Act](https://policyrisk.com/legislation/119-hr-1) - [119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1628) - [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452) - [119-hr-591: Defending American Jobs and Investment Act](https://policyrisk.com/legislation/119-hr-591) - [119-hr-1156: Pandemic Unemployment Fraud Enforcement Act](https://policyrisk.com/legislation/119-hr-1156) - [119-hr-1301: Death Tax Repeal Act](https://policyrisk.com/legislation/119-hr-1301) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-hr-10357 (as of 2026-10-30).