🚨 Two major digital currency bills pass committees in the U.S. House of Representatives! 🇺🇸
Two important bills on digital currencies move to the next stage:
1️⃣ American Reserve Modernization Act for 2026
2️⃣ Digital Asset Tax Certainty Act
📜 The two bills are now heading toward a full vote in the House of Representatives, before moving on to the Senate if they are approved.
🇺🇸 Despite the CLARITY Act stalling, Congress is still working on other important digital currency legislation.
As the SEC and the CFTC move toward setting rules for digital currencies under existing laws.
📈 These bills could help boost digital currency adoption by clarifying tax rules for investors and strengthening Bitcoin’s role as a strategic reserve asset.
🟠 Key provisions of the 2026 American Reserve Update Act:
1️⃣ Create an official strategic Bitcoin reserve in the United States.
2️⃣ Hold government-issued Bitcoin for at least generally 20 years.
3️⃣ Require federal agencies to report their holdings of Bitcoin and digital currencies.
4️⃣ Publish periodic reports and conduct audits by the Treasury Department.
5️⃣ The ability to sell other digital currencies owned by the government to buy Bitcoin or reduce debt.
6️⃣ Study ways to buy more Bitcoin without increasing taxes or borrowing
7️⃣ Protect the right to buy, own, transfer, and self-custody Bitcoin.
💰 It is said that the U.S. government holds about 328,000 BTC, and this proposal could lead to keeping that amount for years, while allowing for additional purchases.
🟢 Key provisions of the Digital Asset Tax Certainty Act:
1️⃣ Tax exemptions for digital currency transaction fees under $10.
2️⃣ Set new rules for income generated from mining and staking.
3️⃣ Clarify tax rules for stablecoins (Stablecoins).
4️⃣ Expand the application of the rules for selling assets at a loss and repurchasing them (Wash-Sale Rules) to include digital currencies.
5️⃣ Treat digital currency lending more like traditional securities lending.
6️⃣ Adjust reporting requirements for digital currency transactions by intermediaries.
👀 Could these bills pave the way for further adoption of Bitcoin and digital currencies in the United States?
