US House Begins Review of Cryptocurrency Tax and Bitcoin Strategic Reserve Bill

The US House has begun deliberations on legislation concerning cryptocurrency taxation and a strategic Bitcoin (BTC) reserve. According to reports from O'Daily on the 16th (local time), the House Ways and Means Committee initiated a markup session for the Digital Asset Tax Certainty Act at 11 PM KST on that day. A markup is a committee review stage before a bill is sent to the full chamber. The legislation aims to revise tax treatment for small cryptocurrency transactions, dollar stablecoin trades, and major cryptocurrency profit calculations. It also includes provisions to improve tax fairness between digital asset landings and traditional finance (TradFi) assets. On the same day, the House Financial Services Committee reviewed the American Reserve Modernization Act, introduced by Republican Representative Nick Bugez in May. The bill proposes establishing separate strategic Bitcoin reserves and cryptocurrency reserves excluding Bitcoin under the Treasury Department. It mandates systematic storage of seized Bitcoin and regular public disclosure of holdings.