The U.S. House Ways and Means Committee today completed its markup of the Digital Asset Tax Certainty Act (H.R. 10357), advancing the amended text to the full House by a vote of 38 in favor and 5 against. During the markup, two amendments proposed by Democratic Representative Lloyd Doggett were both rejected: an amendment regarding 1099 reporting obligations for non-custodial and DeFi platforms was defeated 12–28, and an amendment requiring a study on the electricity and environmental impact of crypto mining was defeated 16–25. The bill, introduced by Ways and Means Committee Chairman Jason Smith on September 14, includes the following key provisions: on-chain network fees of less than $10 per transaction may be excluded from taxable events under qualifying conditions (except for those who transferred more than 5,000 transactions in the prior year); the wash sale and constructive sale rules are extended to digital assets, with qualified stablecoins exempted; the nature and source of mining and staking income are clarified (without including a deferral provision for "not taxed upon receipt, taxed upon sale"); as well as provisions on broker reporting, lending transfers, and stablecoin simplification. The bill still needs to pass the full House, the Senate, and be signed by the President to become law. The House will recess later this week until after the midterm elections, and floor scheduling has not yet been determined. [ForesightNews]