Bloomberg: The U.S. House Ways and Means Committee will hold a closed-door, bipartisan briefing on crypto taxation on Thursday

According to Bloomberg, citing three people familiar with the committee’s plans, the U.S. House Committee on Ways and Means will hold a closed-door, bipartisan briefing on cryptocurrency tax issues on May 14 (Thursday), with attendance limited to committee members only. The meeting will be held on the same day as the Senate Banking Committee’s consideration of the CLARITY Act on Thursday.

Background and bipartisan format for the closed-door meeting

According to Bloomberg, both Democratic and Republican sources familiar with the committee’s plans confirmed that the meeting will follow a bipartisan format and that only Ways and Means committee members will attend. Bloomberg reported that convening this closed-door briefing suggests that the stalled progress of cryptocurrency tax legislation may be drawing shared attention from both parties.

PARITY Act core provisions update

According to Bloomberg, the legislative backdrop for this closed-door meeting is the latest progress on the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Revenue Act (PARITY Act). Representatives Steven Horsford and Max Miller reintroduced the PARITY Act for consideration in Congress on March 26, 2026; the initial draft was prepared starting in December 2025.

The report said the main updates to the revised PARITY Act provisions are as follows:

New standard for stablecoin exemptions: removes the early draft’s tax-exempt cap of 200 USD for regulated payment stablecoins, replacing it with a rule that if the seller’s cost basis is below 99% of the redemption value, then sales of any regulated payment stablecoin would be exempt from tax; it also includes a provision that when exchanges handle stablecoin transactions, they default to using a $1 fixed cost basis

Digital asset “wash sale” rules: introduces rules to prevent investors from artificially realizing losses through short-term buying and selling of cryptocurrency to evade taxes

Clarification of staking activity definitions: clearly distinguishes the different tax treatment between passive staking activities (where investors help verify network transactions but do not execute trades) and ordinary trading activities

Outstanding questions and legislative outlook

According to Bloomberg, the latest version of the PARITY Act strictly limits the scope of exemptions to transactions involving regulated payment stablecoins; Bitcoin and other similar digital assets are still not included in the exemption scope.

The report said it remains unclear how the PARITY Act will advance in Congress, and whether the bill’s provisions will be further expanded to cover other cryptocurrencies is also uncertain. At the same time, broader expectations for tax reform and President Trump’s recent budget requests add further uncertainty to the bill’s fate.

FAQ

What are the specific date and participation format for the House Ways and Means Committee’s closed-door briefing on crypto taxes?

According to Bloomberg, the closed-door briefing will be held on May 14, 2026 (Thursday). It will follow a bipartisan format, with attendance limited to committee members only. The report cites three people familiar with the plan but requesting anonymity.

What are the latest provisions of the PARITY Act for stablecoin tax exemptions?

According to Bloomberg, the revised PARITY Act removes the early $200 stablecoin tax-exempt cap and instead provides that if the seller’s cost basis is below 99% of the redemption value, then sales of regulated payment stablecoins are tax-exempt; the exemption applies only to stablecoins, and other digital assets such as Bitcoin are not included.

Who are the sponsors of the PARITY Act, and when was it reintroduced?

According to Bloomberg, the PARITY Act was reintroduced for consideration in Congress by Representatives Steven Horsford and Max Miller on March 26, 2026. The initial version was drafted in December 2025.