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High urgency

House Ways & Means Committee Releases Draft Crypto Tax Legislation - Steptoe

Detected July 6, 2026 · in Crypto & DeFi Tax Reporting

House Ways & Means Committee releases draft crypto tax legislation, including broker reporting, 1099-DA, and wash sale rules.

Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 6, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated High urgency. Crypto exchanges/brokers, accounting firms, DeFi protocols, high-volume traders should confirm how it applies to their specific situation before acting. There is a time constraint attached: Comment period likely 30-60 days; legislation may advance in 2025.. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Crypto & DeFi Tax Reporting continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.

What changed

Draft legislation proposes new reporting requirements (1099-DA), wash sale rules for digital assets, and expanded broker definition covering DeFi.

Who it affects

Crypto exchanges/brokers, accounting firms, DeFi protocols, high-volume traders

What you must do

Review draft, assess impact on reporting systems and tax positions, and prepare comments or compliance adjustments.

Deadline

Comment period likely 30-60 days; legislation may advance in 2025.

Source: https://news.google.com/rss/articles/CBMizwFBVV95cUxQVGxoemhjQjVEb0lXbXY0NWx0RmRUZjFDOGxIV0pFYmx1OHd5UEx1U3hrTTJqMTdyU2c3aEgwRWc5NG9kUjhmUWYyM0R6RXVXc2dTcDJobm16cmdVUDFhcUJDRlktbWMzRS1feTdmVWV2VlgzSnBQZTJmQUU1RzQ0aTdCaVN4bjZYRlp0bWowQ1NlTV9veFY3S0pVbXVpX1g3Nm15RmtsU0ttbWxxWFlEMTA3OHNaLWtPem5DVFQ0WnJmVnlVQzVNNWxFS0tmZ2c?oc=5

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