Senate Could Unveil Crypto Tax Bill by Fall 2026 as CLARITY Act Push Continues, GOP Senator Daines Says

Senate lawmakers could release cryptocurrency tax legislation as early as this fall, Sen. Steve Daines (R-Mont.) said, with the Montana Republican stating that a framework is already in place and broadly aligned with a parallel House effort.

Key TakeawaysSen. Steve Daines said the Senate could release a crypto tax bill by fall 2026, with a framework already drafted.The Senate plan is “more similar than not” to the House Ways and Means Committee’s proposal, Daines said.

A markup could come this year, adding tax rules to a US crypto agenda already centered on the CLARITY Act. A Framework Already in Place Senate lawmakers working on cryptocurrency tax rules may be ready to act “sooner rather than later,” possibly in the fall, according to Daines, a member of the Senate Finance Committee. He said the groundwork is further along than many observers assume.

“We’ve gotten a framework put together,” Daines said, adding that he was hopeful lawmakers could hold a markup on crypto tax legislation this year. A markup would mark the first formal step toward turning the framework into a bill the full chamber could consider. Image source: X The comments, reported by Bloomberg Tax, suggest tax policy is emerging as the next major front in Washington’s crypto debate, even as a separate market-structure bill dominates headlines.

For investors and businesses, the tax treatment of digital assets has long been one of the murkiest corners of U.S. policy.

Aligning With the House Daines indicated the Senate’s approach would track closely with work already underway in the lower chamber. He described the emerging framework as “more similar than not” to what the House Ways and Means Committee has released, a sign the two chambers may avoid the kind of divergence that can stall legislation. A key House committee has been preparing its own legislation to forge a clearer crypto tax structure, addressing questions that current law leaves ambiguous, such as the treatment of staking rewards, mining income, and small transactions.

Aligning the two efforts early could smooth the path to a final bill. Bitcoin.com News reported on the broader push as lawmakers race to lock in US crypto rules, an effort that has so far centered on the regulatory framework rather than the tax code.

The Next Front in Crypto Policy Tax certainty has become a priority for an industry that has spent years navigating piecemeal guidance from the Internal Revenue Service. Clearer statutory rules stand to reduce compliance disputes and give traders, miners, and companies firmer ground on which to plan. The timing also matters politically as the CLARITY Act has recently consumed much of the Senate’s crypto bandwidth.

A tax framework arriving in the fall would test whether Congress can advance two complex digital-asset measures in the same session. For now, the proposal remains a framework rather than a finished bill. Daines stopped short of committing to a firm date, and any markup would still need to clear the Finance Committee before reaching the floor.

If the two chambers stay in sync, crypto tax legislation could advance alongside the market-structure push, giving the sector a rare double dose of regulatory certainty. CLARITY Act Push Gains Momentum as Lawmakers Race to Lock in US Crypto RulesThe CLARITY Act push is gaining momentum as lawmakers seek federal rules for digital asset markets. The proposal has attracted…

Read NowCLARITY Act Push Gains Momentum as Lawmakers Race to Lock in US Crypto RulesThe CLARITY Act push is gaining momentum as lawmakers seek federal rules for digital asset markets. The proposal has attracted…Read NowCLARITY Act Push Gains Momentum as Lawmakers Race to Lock in US Crypto RulesRead NowThe CLARITY Act push is gaining momentum as lawmakers seek federal rules for digital asset markets.

The proposal has attracted… Sen. Steve Daines said the Senate could release a crypto tax bill by fall 2026, with a framework already drafted.

The Senate plan is “more similar than not” to the House Ways and Means Committee’s proposal, Daines said. A markup could come this year, adding tax rules to a US crypto agenda already centered on the CLARITY Act. Warren Says the CLARITY Act Will 'Blow Up the Economy' as Senate Panel Votes 15-9 to Advance Bill Schumer Says Democrats Want a Good Crypto Bill as CLARITY Act Enters Key Phase Congress Members to Hold Bipartisan Crypto Tax Meeting May 14 ICBA Warns Kraken OCC Charter Bid Threatens US Bank Deposits and Financial Stability Sen.

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