On July 9, 2025, the U.S. House Ways and Means Committee will convene a pivotal hearing titled “Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century”, set for 09:00 AM ET in the Longworth House Office Building. This session kicks off ahead of a full “Crypto Week” starting July 14, during which lawmakers aim to vote on landmark bills including the CLARITY, GENIUS, and CBDC‑related legislation
A major point of speculation is whether Congress will discuss introducing a 0% capital gains tax on U.S.-based crypto assets—rumors that have energized the crypto community, though no formal proposal has been confirmed. The aim, however, is clear: to modernize tax policy, simplify compliance, and restore America’s competitive edge in blockchain innovation.
Meanwhile, the Senate Banking Committee will hold its own hearing—“From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets”—on the same day, featuring heavyweights like Ripple’s Brad Garlinghouse, Blockchain Association CEO Summer Mersinger, Chainalysis’s Jonathan Levin, and Paradigm’s Dan Robinson. They’ll tackle digital‑asset custody, stablecoin safeguards, and market structure proposals like the GENIUS and CLARITY Acts.
In parallel, Senator Cynthia Lummis has unveiled a standalone crypto tax reform bill aiming to:
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Exempt capital gains on small crypto trades under $300 up to $5,000 annually,
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Defer mining and staking taxes until tokens are sold,
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Treat lending activities as non‑taxable, and
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Close “wash‑sale” loopholes while permitting mark‑to‑market accounting for traders.
If advanced, this package could alleviate burdensome reporting regulations and align crypto taxation more closely with those for securities and commodities.
Why this matters:
The hearing signals a potential shift toward a friendlier regulatory environment that balances tax clarity, regulatory oversight, and innovation—key to attracting both retail users and institutional investors. While a 0% capital gains tax remains speculative, discussions around simplified frameworks are making significant headway.