cryptocurrency taxation

5 months agoNews Editor

US Crypto Lobby Groups Urge Congress to Advance Mining and Staking Tax Clarity Bill

Major US crypto industry lobbying organizations have jointly sent a letter to the House Ways and Means Committee, urging advancement of the "Tax Clarity for Mining and Staking Act" introduced by Republican Representative Mike Carey. The bill would allow taxpayers to choose when to pay taxes on newly mined or staked digital assets—either at creation or upon sale—to avoid taxing unrealized gains. Industry groups including the Blockchain Association, Digital Chamber, and Crypto Council for Innovation support the measure, while Democratic lawmakers worry large mining firms could exploit the mechanism for prolonged deferral. The tax issue has become a secondary front in crypto legislation.