Senator Steve Daines of Montana believes that Republicans in the US Senate are close to introducing a tax plan for cryptocurrencies. He believes the framework could take shape as early as the fall of 2026. It could represent a great breakthrough for cryptocurrency regulation with the CLARITY Act also moving forward.
US Senate promotes cryptocurrency tax initiative
On Tuesday, June 23, Daines noted that lawmakers on the Senate side had already come up with draft outlines of the proposal. “We have put together an integrated framework,” the Republican said on the Senate tax-writing committee.
However, Daines said he would not comment on the details of the bill, according to Bloomberg Tax a report. However, he said the plan is “most similar to” proposals recently floated on the House floor.
Daines also indicated he was interested in referring the matter to the committee before the end of the year. “If we can, I would love to,” he said when asked about the possibility of a price increase in 2026.
These comments come as congressional tax committees move forward with their work on digital asset policy. The House Ways and Means Committee recently introduced a set of Six crypto tax bills. The proposals covered topics such as staking, mining, and how to tax digital asset transactions.
The topic of cryptocurrency tax legislation is gaining momentum in the US Senate. In October 2025, the Senate Finance Committee, led by Senator Mike Crapo, reviewed the issue of taxation of digital assets during a hearing, paving the way for future bills.
A look at Parity and Clarity Act initiatives
In March 2026, the Bipartisan Parity Act was introduced in the House of Representatives. The bill primarily addresses taxation of stablecoins and will revise legal definitions of digital assets. Moreover, the Digital Asset Market Clarity Act has been gaining momentum since then Placed on the US Senate calendar.
Previously, the CLARITY Act was approved by the Senate Banking Committee by a vote of 15-9 in May. Now, lawmakers are looking forward July 4 approvalThis seems unlikely because a date for a vote in the Senate has not yet been set.
In addition, Bill Moral judgments against President Donald Trump And other federal officials could lead to a dead end.
