The Senate Finance Committee said Sept. 24 that it will hold a hearing next week on how digital assets should be taxed as industry leaders continue to push for clear federal rules.
Committee Chairman Mike Crapo announced that the session, titled “Examining the Taxation of Digital Assets,” will be held on Oct. 1.
According to the notice, Coinbase vice president of tax Lawrence Zlatkin and Coin Center policy director Jason Somensatto are scheduled to testify.
The committee previously sought public input on how existing tax laws apply to cryptocurrencies and whether new legislation is needed.
The upcoming hearing is expected to build on recommendations from the White House Digital Asset Working Group, which urged lawmakers to recognize crypto as a separate asset class governed by tailored tax rules for commodities and securities.
Pro-crypto Senator Cynthia Lummis has floated her own proposal, including a de minimis exemption for digital asset transactions under $300 and reduced tax rates on Bitcoin payments as part of a broader push to remove barriers for everyday use.
The developments come amid a wider legislative push by lawmakers to establish a comprehensive regulatory framework for stablecoins and the wider crypto industry. However, the timing for the Senate tax hearing remains uncertain.
Congress faces a Sept. 30 deadline to pass a government funding measure, which could lead to a shutdown that would force the committee to postpone the hearing. The political standoff has already delayed a separate markup on crypto market structure legislation until later in October.
The Finance Committee’s hearing will mark one of the Trump administration’s most visible steps toward clarifying how digital assets are taxed, a subject long criticized by advocates as mired in ambiguity.
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