Crypto’s Next Legislative Debate Is Tax Policy And It Is Bipartisan
Representative Steven Horsford, a Democrat from Nevada, center, and Representative Max Miller, a Republican from Ohio, during the DC Blockchain Summit in Washington, DC, US, on Wednesday, March 18, 2026. Photographer: Al Drago/Bloomberg
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“It needs to be bipartisan or I have no desire to move it,” is what Congressman Jason Smith (MO-08), who Chairs the U.S. House Ways and Means Committee, told reporters last month when asked about the fate of a potential tax bill for digital assets.
Bipartisan crypto tax legislation was introduced three weeks later by U.S. Representatives Steven Horsford (NV-04), Max Miller (OH-07), Suzan DelBene (WA-01), and Mike Carey (OH-15). The Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act seeks to modernize the rules and close the wealth gap, according to the press release announcement.
“The PARITY Act establishes clear, durable, and administrable standards that strengthen investor protections, provide certainty to markets, and put strong guardrails in place to prevent abuse and manipulation. Innovation should not come at the expense of accountability or fairness. With clear rules of the road, everyday people not just large corporations and the ultra-wealthy can safely participate in these emerging technologies, build wealth, and help close the wealth gap,” Congressman Horsford said.
U.S. Rep. Miller made the case for global competitiveness.
“As America continues to lead the world in innovation, our tax code has failed to keep pace with the rapid growth of digital assets and modern financial technology.”
Horsford and Miller are leading negotiations and have indicated that deliberations are on track and passage by the end of this year is within sights.
The work of the Ways and Means Committee has intensified over the last few months, even as the Senate Banking Committee CLARITY Act markup took center stage.
Following the roll out of a discussion draft in March, policymakers convened a bipartisan members roundtable in May to confer about crypto taxation architecture.
Both CLARITY and PARITY are vital as Washington works to develop a comprehensive policy and regulatory framework to foster sound market structure.
UNITED STATES – The House Ways and Means Committee. (Photo By Bill Clark/CQ Roll Call)
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Could Two Crypto Bills Could Become in 2026?
The industry, meanwhile, is waiting on bated breath to see if another crypto bill will become law in 2026, with six months left for possible action at the federal level.
Even if a vote is added to the Senate calendar, CLARITY will need a bipartisan vote of 60 to advance towards the President’s desk for signature. Add a tax bill to the Congressional legislative clock, and the stakes are the highest that they’ve ever been.
Signing two crypto bills into law this year, while rule making on the GENIUS law is taking place, will position the industry in new market territory. Writing clear rules across multiple agencies will bring Web3 and DeFi into the mainstream in significant ways. That would be a lot of juggling of priorities for a young industry that is thirsty for clear guidance to accelerate innovation in the U.S. and abroad.
