U.S. House panel pushes tax exemption for crypto transactions under $10

The U.S. House Ways and Means Committee is pushing a bill, H.R. 10357, that would exempt cryptocurrency transactions under $10 from taxes, Bitcoin.com reported. The exemption would not apply to users whose asset transfers exceeded 5,000 transactions in the previous year. A separate bill being advanced alongside it would apply wash-sale rules to crypto, targeting cases where investors sell at a loss and immediately repurchase the asset to use the loss as a tax deduction.