Today, Summer Mersinger, CEO of Blockchain Association, will present her testimony before the House Ways and Means Subcommittee on Oversight. The hearing is centered on enhancing the federal tax framework for digital assets.
Mersinger represents over 130 member companies in the U.S. blockchain ecosystem. These include software developers, infrastructure providers, investment firms, and trading platforms. She aims to highlight the urgent requirement for clear tax rules that promote American innovation while allowing reasonable compliance.
“Our tax code wasn’t built for this kind of innovation – and the result is costly confusion that harms consumers, small businesses, and the IRS alike,” Mersinger states in her prepared remarks. “To ensure that growth and innovation happens in the United States, Congress must provide clear, workable tax rules for digital assets.”
In addition to supporting tax compliance within the industry, Mersinger will encourage Congress to adopt a more practical approach focused on innovation. This includes exempting de minimis gains and losses from taxation; clarifying income character, source, and timing for mining and staking rewards; and allowing charitable deductions for digital assets easily valued or regularly traded without requiring a qualified appraisal.
“Digital assets represent a transformative opportunity for the American economy. But without modern, fair, and practical tax rules, we risk losing that opportunity,” Mersinger will testify. “Blockchain Association and its members stand ready to serve as a resource to Congress as we chart a clearer path forward.”
The hearing is scheduled at Longworth House Office Building with a livestream available on the House Ways and Means Committee website.
