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U.S. Digital Assets Tax Policy Getting Hearing During 'Crypto Week'
The House Ways and Means Committee is set on July 16 to examine how to set up proper taxation for the crypto sector.
Jul 9, 2025, 9:27 p.m.
What to know:
- The U.S. House of Representatives' tax committee has set a hearing during "Crypto Week" to look at tax ideas for the industry.
- The July 16 hearing in the House Ways and Means Committee will focus on helping make America the global crypto capital, according to the panel's Republican leadership.
As the U.S. House of Representatives digs into digital assets policy during what lawmakers have styled "Crypto Week" next week, the committee that focuses on tax policy will discuss the proper way forward for taxing crypto.
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The chairman of the House Ways and Means Committee, Representative Jason Smith, announced a July 16 hearing of the oversight subcommittee to look at the "affirmative steps needed to place a tax policy framework on digital assets," according to a statement on Wednesday.
Crypto taxation is next in line behind overall regulation of the markets and the oversight of stablecoins as a leading policy issue expected to get attention in Congress. The two primary legislative efforts are both expected to see action next week, including a potential House vote to approve the Senate's recently passed bill to regulate stablecoin issuers.
Taxation on digital assets activity has long been a millstone around the industry's neck, because until crypto taxes get a reliable, rational U.S. tax regime, investors have to face uncertainty in their accounting approach. The House hearing announcement comes on the heels of Senator Cynthia Lummis' introduction of a bill last week in the other chamber of Congress that addresses some of the lingering complaints of cryptocurrency users.
Lummis' legislation would set a threshold of $300 on crypto transactions that would need to factor into a users' tax calculations, freeing up people's small, day-to-day transactions from capital-gains headaches — limited to a total of $5,000 a year. And it would also eliminate double taxation on crypto given in staking, mining, airdrops and forks, eliminating the initial tax when the rewards are received and focusing only on taxing gains from the eventual sale.
It's unclear what the House has in mind just yet, but the Republican-led committee is looking for industry-friendly policy, with the hearing entitled, "Making America the Crypto Capital
of the World: Ensuring Digital Asset Policy Built for the 21st Century."
Read More: Crypto Tax Proposal That Didn't Make It to Trump's Budget Bill Pushed on Its Own
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Banxico’s year-end report reaffirms its anti-crypto stance, highlighting legal risks, low adoption, and the need for international regulation.
What to know:
- Mexico's central bank maintains a cautious stance on digital assets, keeping them separate from its financial system.
- Banks and fintech firms in Mexico have been prohibited from offering cryptocurrencies to customers since 2021.
- The Bank of Mexico cites concerns over price volatility, cybersecurity risks, and money laundering as reasons for its cautious approach.
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