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Key US House Committee Preparing Legislation to Forge Crypto Tax Structure

A House panel is readying legislation to address the taxation of cryptocurrencies for release as early as Friday, before a hearing early next week.

The committee is expected to release bills addressing issues including when a digital token created through mining or rewards collected from staking should be taxed.

The measures would bring parity to the tax treatment of digital assets and securities, and extend to digital assets wash sale restrictions that bar investors from claiming losses on the sale of a security.

Bitcoin Treasury Firms Shed $62 Billion in Deepening Crypto Rout

Shares of digital-asset treasury companies have continued to sink alongside the broader market downturn, extending losses that in many cases far exceed those of the cryptocurrencies they were built to own.

The combined market value of fully diluted Bitcoin treasury company stocks has fallen to about $72 billion from nearly $134 billion at its most recent peak in early October, erasing $62 billion.

Companies that once promised investors leveraged exposure to a perpetual crypto bull market are increasingly focused on survival, conducting reverse stock splits, issuing preferred securities, restructuring financing arrangements and, in some cases, selling portions of the crypto assets they once pledged to accumulate indefinitely.

Crypto Market Loses $2 Tln, Michael Saylor Explains Why

The latest crypto market crash is gaining notable traction, with many evaluating the potential of a further downfall ahead. According to the latest data, the crypto space has lost more than $2 trillion from its market cap since October 2025, suggesting the heavy selling pressure in the market.

In addition, the Strategy Chairman, Michael Saylor, is also in the discussions, as the firm sold $2.5 million in Bitcoin. A flurry of market watchers have also blamed this selloff as a potential reason behind the recent BTC price crash.

However, despite that, Saylor appears to have remained bullish on the potential future movement of Bitcoin as well as the broader crypto market.

In a recent X post, Saylor highlighted the broader macroeconomic dynamics shaping investor behavior. He noted that capital markets have funneled roughly $400 billion into artificial intelligence infrastructure over the past six months.

Having said that, he suggests that Bitcoin is facing temporary pressure as liquidity shifts toward the AI sector. At the same time, he noted that Bitcoin exchange-traded funds (ETFs) have recorded approximately $4 billion in outflows since mid-May, contributing to the current downturn.

Considering that, it seems that Michael Saylor remains confident in a potential recovery in the crypto market ahead. Despite that, investors should exercise due diligence, given the gloomy sentiment hovering in the market.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on June 4 was $44.61 million. The total net asset value of Bitcoin spot ETFs is $81.86 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.43%.

The Bitcoin spot ETF with the highest net outflow on June 4 was Fidelity Wise Origin Bitcoin Fund(FBTC), with a net outflow of $5.54 million, according to SoSoValue.