The House Ways and Means Committee has circulated seven draft bills ahead of a hearing on June 9, focusing on cryptocurrency tax policy. These bills address key areas such as staking, mining, de minimis exceptions, and stablecoin transactions. This legislative effort marks a significant procedural step, as the committee engages in structured discussions with expert witnesses before any markup, a method not used in years. Alison Mangiero from the Crypto Council for Innovation highlighted the importance of these bills, describing them as a crucial component of crypto legislation alongside the GENIUS Act and the Clarity Act. The draft bills propose sensible tax treatments for stablecoins, de minimis exceptions for transaction fees, and clear rules for mining and staking rewards. Meanwhile, the Financial Accounting Standards Board's Investor Advisory Committee is also evaluating the classification of stablecoins as cash equivalents, with further discussions scheduled for November.