Blockchain Association urges Congress to pass crypto tax rules before the clock runs out

The Blockchain Association wants Congress to finish a job it has started, and then paused, more than once. On Thursday, the trade group sent a letter to the top four leaders on Capitol Hill asking them to pass bipartisan digital asset tax legislation. The letter lays out 10 principles the group wants any final bill to follow. The list ranges from a de minimis exemption to letting Americans hold crypto inside their retirement accounts. Who got the letter, and what’s in it The October 22 letter went to House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. On the Senate side, it was addressed to Majority Leader John Thune and Minority Leader Chuck Schumer. The group’s core argument fits in one line from the letter: “Sixty-seven million Americans now hold and use digital assets, yet the rules that govern them were written for a different era.” Among the 10 principles, a few stand out: A de minimis exemption. This would spare small transactions from triggering a tax calculation. Buying a coffee with crypto currently can mean tracking a gain or loss. No tax on moving assets between your own wallets. Shifting coins from one wallet you control to another is, functionally, m...