Cynthia Lummis doubts a crypto tax bill will pass this year

One of crypto’s most reliable allies in Congress is managing expectations. Sen. Cynthia Lummis (R-Wyo.) said on October 1, 2026 that she does not expect digital asset tax legislation to clear Congress before the year ends. Her reasoning centers on the Senate Finance Committee. Lawmakers there are reluctant to reopen the tax code during the post-election lame-duck session, the stretch between Election Day and the arrival of a new Congress. “So it will surprise me if anything tax-related on digital assets gets done in the lame duck,” Lummis said. The House moved. The Senate is stuck. On September 16, 2026, the House Ways and Means Committee approved the Digital Asset Tax Certainty Act, H.R. 10357. The vote was 38-5. The bill tries to answer several questions that have hung over crypto taxation. It covers de minimis exemptions, mark-to-market accounting, and specific rules for wash sales, mining, and staking. A de minimis exemption carves out small transactions from tax treatment, so a minor crypto purchase does not become a bookkeeping event. Mark-to-market accounting lets a taxpayer treat holdings as if they were sold at year-end value, and the House bill offers that as an election ...