"U.S. House Schedules Cryptocurrency Taxation Hearing on the 9th: Aiming for America as Crypto Capital"

# U.S. House Opens Hearing to Establish America as Global Crypto Capital The U.S. House Ways and Means Oversight Subcommittee is set to conduct a hearing on July 9 to discuss policies aimed at positioning the United States as the global leader in cryptocurrencies. Journalist Eleanor Terrett announced the news on X (previously Twitter) on July 7. The meeting, titled "Making America the Crypto Capital of the World," will focus on creating a tax framework that suits the 21st-century digital asset landscape. # Congressional Leaders Champion Crypto-Friendly Policies The hearing will be jointly led by Jason Smith (R-MO) and David Schweikert (R-AZ), the chairs of the full committee and subcommittee, respectively. An official press release highlighted their emphasis on developing a tax policy that matches the rapid expansion of the digital asset sector. They plan to outline legislative directions and explore administrative measures to create a more favorable environment for cryptocurrencies. As indicated by the hearing's title, this session is a deliberate attempt to evaluate and potentially adopt crypto-friendly policies to help the United States become a leader in the digital asset realm. # Event Details and Access Scheduled for 9:00 AM Eastern Time on July 9, the hearing will be held in Room 1100 of the House Office Building in Washington, D.C. Those unable to attend in person can watch the proceedings via webcast. However, no recorded video will be available after the live stream. # U.S. Increases Focus on Crypto Policy Development The hearing announcement signifies a major shift in Congress toward accelerating formal policy-making for the cryptocurrency sector. The focus on tax issues, rather than strict regulatory measures, suggests a desire to support industry growth and attract investment. Currently, the U.S. digital asset taxation landscape is hampered by vague regulations and inconsistent enforcement, creating operational uncertainty for industry participants. Pro-crypto lawmakers have previously tried to include certain tax deferrals in budget legislation under former President Donald Trump’s administration, but those efforts did not succeed. # Key Implications for the Crypto Sector Industry insiders see this hearing as a crucial step toward institutionalizing cryptocurrency in the United States. If Congress successfully addresses tax policy gaps and fosters a pro-business environment, it could lead to increased investment and innovation in the rapidly evolving digital asset industry. Market participants and policy observers will closely monitor the outcomes of this hearing as the U.S. government aims to establish a leading role in the global cryptocurrency ecosystem.