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The U.S. House Ways and Means Committee passed the crypto tax bill by a vote of 38–5, sending it to the full House for consideration
The U.S. House Ways and Means Committee today completed its markup of the Digital Asset Tax Certainty Act (H.R. 10357), advancing the amended text to the full House by a vote of 38 in favor and 5 against.
The bill, introduced by Ways and Means Committee Chairman Jason Smith on September 14, includes the following key provisions: on-chain network fees of less than $10 per transaction may be excluded from taxable events under qualifying conditions (except for those who transferred more than 5,000 transactions in the prior year); the wash sale and constructive sale rules are extended to digital assets, with qualified stablecoins exempted; the nature and source of mining and staking income are clarified (without including a deferral provision for "not taxed upon receipt, taxed upon sale"); as well as provisions on broker reporting, lending transfers, and stablecoin simplification.
U.S. SEC Chair: Will take action within statutory authority to provide regulatory certainty
SEC Chair Paul Atkins tweeted that he appreciates the involvement of the executive branch, Congress, investors, and innovators in the CLARITY Act, and stated that the United States must continue to remain at the forefront. Regardless of whether legislation is passed in the future, the SEC will act decisively within its statutory authority to provide certainty for U.S. investors and entrepreneurs shaping the future of technology.
'Not the end': Sen. Gillibrand says Democrats still committed to passing Clarity Act
Seven U.S. Democratic Senators — Kirsten Gillibrand, Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, Mark Warner and Raphael Warnock — said they remain committed to passing the Digital Asset Market Clarity Act. "This week was a setback, but not the end of that important work," the senators wrote, noting two years of effort to pass crypto legislation to "expand opportunity, protect consumers, punish bad actors, create regulatory certainty, and include strong, commonsense ethics provisions for elected officials."
The statement followed the bill’s failure to clear a Senate procedural vote on Tuesday; it needed 60 votes but received 49. All seven senators who signed the statement voted no.
JPMorgan said agency rulemaking could establish guardrails to "appease the crypto-ecosystem and instill some confidence into incremental capital flows," though it’s less durable than legislation.
Bitcoin & Ethereum Spot ETF Flow
Bitcoin Spot ETF saw a total net outflow of 295.98M USD yesterday, with only Morgan Stanley's ETF MSBT achieving a net inflow
According to SoSoValue data, Bitcoin spot ETF saw a total net outflow of 295.98M USD yesterday (Eastern Time, September 16th).
The Bitcoin Spot ETF with the highest net inflow yesterday was Morgan Stanley's ETF MSBT, with a daily net inflow of 3.47M USD, and the total historical net inflow of MSBT currently stands at 541.85M USD.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of 144.11M USD, and the total historical net inflow of IBIT currently stands at 63.83B USD.
As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 95.19B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.22%. The historical cumulative net inflow has reached 54.57B USD.
Ethereum spot ETFs had a total net outflow of $224 million yesterday, with BlackRock's ETHA leading with a net outflow of $110 million
According to SoSoValue data, on yesterday (September 16, Eastern Time), the total net outflow of Ethereum spot ETFs was $224 million. The Ethereum spot ETF with the highest single-day net outflow yesterday was BlackRock's ETF ETHA, with a single-day net outflow of $110 million; ETHA's cumulative total net inflow to date has reached $12.886 billion.
Second was Fidelity's ETF FETH, with a single-day net outflow of $55.583 million; FETH's cumulative total net inflow to date has reached $2.219 billion. As of press time, the total net asset value of Ethereum spot ETFs was $15.155 billion, with the ETF net asset ratio (market cap as a percentage of Ethereum's total market cap) reaching 5.15%, and the historical cumulative net inflow having reached $13.146 billion.