Crypto lobby urges Congress to pass staking and mining tax bill as is
A trio of crypto lobby groups says a bill allowing staking and mining rewards to be taxed when they’re sold should be passed without further amendments.
A group of crypto lobbying organizations has urged Congress to pass a bill on crypto staking and mining taxes without changes, saying it would provide clarity on crypto rewards taxes and ensure blockchains “can be secured by Americans in America.”
The Blockchain Association, the Crypto Council for Innovation and The Digital Chamber said in a letter on Sunday to House Ways and Means Committee Chair Jason Smith and its top Democrat, Richard Neal, that the Tax Clarity for Mining and Staking Act should be passed “as introduced.”
“After years of uncertainty about how mining and staking rewards are taxed, the bill provides a durable compromise that innovators can support while addressing concerns raised by some lawmakers,” the group wrote.