Zcash
19 hours agoNews Editor

Zcash grants committee proposes shifting nearly 98,000 ZEC to future mining rewards

Zcash Community Grants, or ZCG, has floated an early restructuring plan that would redirect roughly 98,000 ZEC away from development funding and toward future mining rewards. The proposal, posted on the official forum on Oct. 29 Taipei time, would move about 36,200 ZEC from the committee treasury into the Network Sustainability Mechanism, or NSM, while also giving up around 62,000 ZEC in future allocations. ZCG said the current 8% share of block rewards allocated to the grants body is more than it can spend. Under the outline, the committee would keep about 55,200 ZEC from its treasury of roughly 91,500 ZEC, while future funding would be cut from about 109,000 ZEC to around 47,000 ZEC before the 2028 halving. The remaining allocation would then taper by about 3% per month until grant funding ends at the 2032 halving. The committee said the idea is still preliminary and has not yet been turned into a formal proposal. It would still need to go through Zcash’s normal governance process. The plan keeps miners’ current 80% share unchanged, while using NSM as a long-term reserve that would release locked ZEC over decades. The forum response was sharply split, with some calling it a workable middle ground and others arguing the real issue is accountability, with some even pushing to abolish ZCG.

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Zcash grants committee proposes shifting nearly 98,000 ZEC to future mining rewards
Zcash
20 hours agoNews Editor

Zcash community grants group proposes redirecting about $124 million to mining rewards

The Zcash community grants group has proposed redirecting about $124 million in existing and future funding to mining rewards as a compromise response to an ongoing governance dispute, according to Techub News, which cited Cointelegraph. The proposal is framed as an attempt to address tensions inside the Zcash ecosystem over how funds should be allocated. Critics, however, say the plan does not resolve the underlying issues. In their view, the proposal still leaves key questions around Zcash’s governance structure and accountability for funding unanswered. The report did not provide additional details on implementation, timing, or the specific governance changes under debate, but it made clear that the disagreement extends beyond fund allocation alone.

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Zcash community grants group proposes redirecting about $124 million to mining rewards
Blockchain Association
8 days agoNews Editor

Blockchain Association urges Congress to move on digital asset tax legislation

The Blockchain Association said it has sent a letter to leaders in the U.S. House and Senate, urging Congress to advance bipartisan legislation on digital asset taxation. In outlining its preferred tax framework, the group called for a meaningful de minimis exemption for small transactions and said mining and staking rewards should be treated as newly created property and taxed when they are disposed of. It also argued that taxpayer privacy should be protected in tax reporting requirements and that tax rules should be based on economic substance. Separately, the association launched an "American Tax Clarity Initiative" website designed to help the public track its policy positions and congressional developments, while also giving people a way to share their views with lawmakers.

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Blockchain Association urges Congress to move on digital asset tax legislation
OCEAN
1 months agoNews Editor

OCEAN Mining Pool Ends BIP-110 Fork Support, Freezes Rewards at Block 961,639

According to Bitcoin News, bitcoin mining pool OCEAN has officially dropped support for the BIP-110 fork chain, citing limited mining activity and a switch in proof-of-work to Blake2b. OCEAN will not adopt or support the BIP-110 hard fork and has stopped paying BIP-110 block rewards. The BIP-110 chain ground to a halt after a user-activated soft fork attempt on August 8 failed; rewards mined after the fork could not be spent because they never cleared 100 confirmations, and OCEAN says they are now frozen permanently at BIP-110 block 961,639. Miners who want to continue supporting BIP-110 have been pointed to CONVOY Mining, which intends to support the Blake2b hard fork while preserving BIP-110 share records.

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OCEAN Mining Pool Ends BIP-110 Fork Support, Freezes Rewards at Block 961,639
Zcash
1 months agoNews Editor

Zcash Eyes Nov. 5 NU7 Upgrade to Cut Block Times to 25 Seconds and Speed Up Private Payments

Zcash developers are aiming for a Nov. 5 launch of the NU7 upgrade, a proposal that would reduce target block times from 75 seconds to 25 seconds and make shielded payments faster to confirm. The plan also introduces a Network Sustainability Mechanism that would temporarily remove roughly 60% of transaction fees from circulation and later return those funds to miners through block rewards starting in February 2031. According to CoinDesk, the proposal keeps Zcash’s issuance and halving schedule largely intact by cutting the reward per block to one-third of its current level and extending the halving interval from 1.68 million blocks to 5.04 million. The upgrade timeline follows discussions among Zcash Foundation, Project Tachyon, Valar, ZODL and Shielded Labs, with the groups reaching unanimous agreement after community and coinholder polling. About 2.4 million ZEC, or 66% of the eligible voting pool, took part. Of those votes, 98.9% supported keeping the current halving schedule, while 96.6% backed February 2031 as the date when collected fees would begin flowing back to miners. A final mainnet decision is due on Oct. 20.

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Zcash Eyes Nov. 5 NU7 Upgrade to Cut Block Times to 25 Seconds and Speed Up Private Payments
U.S. House
1 months agoNews Editor

U.S. House tax bill on crypto leaves mining and staking rewards unaddressed

A 114-page crypto tax bill reviewed on Wednesday by the U.S. House Ways and Means Committee did not include provisions covering the tax treatment of mining rewards or staking rewards. The update was reported by Odaily, which cited Cointelegraph. The brief points to a notable omission in the legislation currently under review, as the bill does not spell out how those two types of crypto-related rewards would be handled for tax purposes. No further details on the missing provisions were provided in the source material.

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U.S. House tax bill on crypto leaves mining and staking rewards unaddressed
United States
1 months agoNews Editor

U.S. House Ways and Means Committee to Review Crypto Tax Plan That Does Not Address Mining or Staking Rewards

The U.S. House Ways and Means Committee is set to review a bill on Wednesday that includes a 114-page cryptocurrency tax proposal, according to BlockBeats. Based on the information available so far, the proposal does not address how mining rewards and staking rewards would be taxed. The update was reported on Sept. 15. No additional details were provided in the source about the bill’s broader scope or other tax provisions tied to digital assets.

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U.S. House Ways and Means Committee to Review Crypto Tax Plan That Does Not Address Mining or Staking Rewards