What happened in this Finance story?

US lawmakers advanced separate House bills Wednesday to lock President Trump's Strategic Bitcoin Reserve into law and overhaul federal crypto tax rules, even as the Senate's broader CLARITY Act stalled in a procedural vote, shifting the industry's focus to SEC and CFTC rulemaking.

What is a key fact in this story? (1)

**House Financial Services Committee** passed the American Reserve Modernization Act of 2026 (H.R. 8957) in a 28-21 vote to create a Strategic Bitcoin Reserve and Digital Asset Stockpile within the Treasury Department, moving Rep. Nicholas Begich's bill to codify Trump's executive order closer to law.

What is a key fact in this story? (2)

**House Ways and Means Committee** advanced the Digital Asset Tax Certainty Act in a bipartisan 38-5 vote, introducing a de minimis exemption for crypto network and transaction fees of $10 or less, extending wash-sale rules to digital assets, and addressing mining and staking income taxation.

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House Advances Bitcoin Reserve, Crypto Tax Bills — SkimNews

By Cointelegraph · Summarized & edited by Kapil Samant · 2026-09-17

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House Financial Services Committee passed the American Reserve Modernization Act of 2026 (H.R. 8957) in a 28-21 vote to create a Strategic Bitcoin Reserve and Digital Asset Stockpile within the Treasury Department, moving Rep. Nicholas Begich's bill to codify Trump's executive order closer to law.
House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in a bipartisan 38-5 vote, introducing a de minimis exemption for crypto network and transaction fees of $10 or less, extending wash-sale rules to digital assets, and addressing mining and staking income taxation.
Senate lawmakers failed to advance the CLARITY Act, a broader crypto market structure bill, in a procedural cloture vote that fell short of the 60 votes needed the day before the House tax bill advanced.
SEC Chair Paul Atkins and CFTC Chair Michael Selig said Wednesday their agencies would continue developing crypto rules using existing statutory authority, picking up the legislative slack after the CLARITY Act's failure.
Bernstein analysts expect "aggressive and swift" SEC and CFTC rulemaking covering token taxonomy for capital raising, DeFi and self-custodial developer protections, innovation exemptions for equity tokenization, and faster approvals for real-world asset perpetual futures.
The House tax package notably omitted a proposed tax deferral for mining and staking rewards, despite addressing how that income is otherwise taxed in the broader bill.

Why it matters: The Bitcoin reserve bill moves Trump's executive order closer to statute, creating a permanent federal home for seized crypto assets. With CLARITY dead in the Senate, regulators at the SEC and CFTC become the industry's primary path to clarity — Bernstein expects aggressive near-term rulemaking on DeFi, tokenization, and RWA perpetuals, with agencies now filling a gap Congress couldn't close.