Crypto Regulation

Blockchain Association Urges Congress to Pass Digital Asset Tax Legislation

Oct 22, 2026 10:11 ET · Oct 22, 2026

TREE NEWS update: The Blockchain Association, representing more than 100 members, sent a letter to U.S. congressional leaders calling for bipartisan digital asset tax legislation. The group proposed a de minimis exemption for small transactions, treating stablecoins as cash with reduced Form 1099-DA reporting, taxing mining and staking rewards only on disposal, limiting broker reporting to intermediaries that custody or control client assets, and clarifying that wallet-to-wallet transfers, smart contract interactions and cross-chain moves are not taxable when economic ownership does not change.

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AI take

The industry's wish list is notable for how precisely it targets the compliance friction points that have made digital asset reporting ambiguous: de minimis relief, stablecoin treatment, and the timing of reward taxation. The push for narrower broker reporting is the most consequential item, as it would limit reporting obligations to custodial intermediaries rather than pushing them onto wallets and protocols. With over 100 members behind the letter, the question is whether this framing gains bipartisan traction or remains an industry-side proposal without a legislative vehicle.

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