The U.S. House Ways and Means Committee has advanced a bipartisan-supported 'Digital Asset Tax Certainty Act' with a vote of 38 in favor and 5 against. The next step is scheduling and voting in the full House. Once passed by the House, the bill will still need to be reviewed by the Senate. Both chambers must approve the same text before it can be sent to the President for signing. The biggest benefit of this bill is reducing the tedious tax calculations for everyday U.S. users with each on-chain transaction. For example: If a small amount of ETH was purchased for $2 and later increased to $5 before being used to pay Gas fees, under current rules, you would generally need to calculate the $3 gain from the disposal. According to the proposed provisions, qualifying fee payments like this could avoid separate profit and loss recognition. For people who frequently transfer funds, use wallets, and interact with on-chain applications, this would reduce the number of tax items and compliance costs. In terms of scope, the $10 limit applies to the total eligible fees for the corresponding transaction, while investment gains from the transaction itself would still need to be handled according to applicable rules. Transaction fees, liquidity fees, and other costs also have matching conditions for the payment currency. Professional traders and individuals with over 5,000 related transfers in the previous tax year are generally subject to exclusion clauses. In simpler terms, this is good news for stablecoin payments. I’ve written before about the many pitfalls of stablecoin payments, one of which is tax-related. If this bill actually passes, it would significantly reduce the tax procedures involved in stablecoin payments. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.