The U.S. House Ways and Means Committee circulated seven discussion drafts of digital asset tax legislation ahead of a Tuesday hearing, signaling a concentrated effort to reshape how crypto activities are taxed under the Internal Revenue Code. The drafts tackle a broad range of topics, including stablecoins, mining, staking, and on-chain transactions, with an emphasis on easing compliance burdens while clarifying entitlement, classification, and reporting rules for market participants.

Specific proposals under consideration include reducing the tax paperwork for crypto holders, clarifying the tax treatment of mining and staking rewards, and potentially introducing a de minimis reporting threshold for smaller transactions. The seven…