Crypto Taxes Under Scrutiny: Senate Hearing Follows IRS Relief Steps

- Senate to discuss crypto taxes as IRS offers compliance relief. - New guidance excludes unrealized gains from CAMT calculations. The U.S. Senate Finance Committee will examine crypto tax policies on October 5, 2025. This hearing follows recent interim guidance from the Treasury Department and the Internal Revenue Service (IRS) aimed at easing corporate compliance with the Corporate Alternative Minimum Tax (CAMT), a policy introduced by the Inflation Reduction Act of 2022. On October 1, Cointelegraph reported that the new guidance allows corporations to exclude unrealized gains and losses on cryptocurrencies like Bitcoin from CAMT income calculations. As the CAMT imposes a 15% minimum tax on the financial statement income of large corporations, this guidance may reduce tax liabilities for companies holding digital assets. Senate Finance Committee Chair Mike Crapo will lead the upcoming hearing, titled "Examining the Taxation of Digital Assets," which will feature testimony from key representatives of the crypto industry. Those scheduled to testify include Lawrence Zlatkin, vice president of tax at Coinbase, and Jason Somensatto, policy director at the blockchain policy advocacy group Coin Center. This development aligns with recommendations made in July by the White House Digital Asset Working Group, which proposed recognizing cryptocurrency as a new asset class and adapting securities and commodities tax regulations to accommodate it. The hearing seeks to examine these recommendations and explore appropriate ways to regulate crypto taxation without imposing undue burdens on the industry. According to data from CoinMarketCap on October 1, Bitcoin (BTC) was trading at $117,799.43 as of 16:13 UTC, and its 24-hour trading volume had increased by 4.2%.