The House fundraising committee reviewed seven cryptocurrency tax reform proposals this week, and negotiations on the clear bill continue to advance

According to Crypto In America, the U.S. House of Representatives' fundraising committee will hold a hearing on cryptocurrency tax reform this Tuesday, reviewing seven discussion drafts covering aspects such as stablecoin trading, mining and staking, crypto lending, wash sale rules, charitable donations, and taxpayer disclosures. Essentially, this breaks down the previously proposed "Digital Asset Equality Act" into multiple independent pieces of legislation.

Meanwhile, negotiations on the Senate's "Clarity Act" are still ongoing. Senator Lummis stated that the bill is more likely to advance after Congress reconvenes on July 13, with core disagreements focused on ethical clauses, DeFi regulatory language, and stablecoin yield issues. The banking industry continues to lobby against stablecoin yield clauses, while over 200 crypto organizations have jointly written to urge the swift advancement of the bill for a vote.

In addition, Illinois plans to impose a 0.2% tax on digital asset transactions, which has sparked strong opposition from industry groups, warning that this move will drive crypto companies out of the state.