Horsford on Digital Assets: Get It Right, Not Just Get It Done

June 9, 2026 Press Release WASHINGTON D.C. – Congressman Steven Horsford (NV-04) today spoke at the House Ways and Means Committee hearing on digital asset tax legislation, raising the need to address key concerns about the proposed bills. Congressman Horsford has spent the past year as one of Congress's leading voices on digital asset tax reform. Together with Congressman Max Miller (OH-07), he introduced the Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields (PARITY) Act , a comprehensive framework to bring clarity, consistency, and enforceable guardrails to the taxation of digital assets. The PARITY Act reflects Horsford's belief that digital assets represent a genuine opportunity to close wealth gaps, expand access to financial tools, and drive innovation but only if Congress puts the right protections in place. At the hearing, Congressman Horsford pressed witnesses and colleagues on two specific vulnerabilities in the current legislation: loopholes around validation rewards and charitable deductions that could be exploited by wealthy investors to avoid paying their fair share. He made clear that those concerns must be resolved before this legislation is ready to move forward and offered a proposed amendment to address these issues. "Digital assets have the real potential to help families build wealth, close economic gaps, and keep America at the forefront of a rapidly growing industry and I have been fighting to make that a reality for over a year. I have pushed my Republican and Democratic colleagues alike, because this cannot be a partisan issue. The stakes are too high," said Rep. Horsford. "But leadership means getting it right, not just getting it done. The bills before this committee have real gaps that must be closed before we move forward. I will keep working with Chairman Smith and Congressman Miller until we deliver a true bipartisan solution that protects taxpayers and ensures the tax code works for every American family not just those at the top. As Chairman Smith said, we truly are on the one-yard line." Congressman Horsford outlined several issues with the proposed legislation and proposed an amendment to provide a more practical and fair tax framework for digital asset holders. The amendment would: Allows taxpayers to defer taxes on newly minted digital assets but requires a fixed-period deferral for up to 5 years. This helps address the "phantom income" problem by preventing taxpayers from being taxed before they have a practical opportunity to realize the value of the asset. Requires an anti-abuse backstop for chartable giving to ensure that taxpayers can only benefit from the same economic value that the charity benefits from. Congressman Horsford thanked Ranking Member Richard Neal for recognizing the work being done to strengthen digital asset tax policy and for his commitment to ensuring digital assets remain part of the broader tax policy conversation. While significant concerns remain with the legislation as currently drafted, Horsford remains committed to working across the aisle to advance a bipartisan framework that protects taxpayers, supports innovation, and ensures digital asset policy works for the American people. Full legislative text of the Digital Asset PARITY Act is available here. The Full Hearing is available here. ### Issues : Economy