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06/23 06:47Bullish

Crypto groups back bill allowing miners and staker

Crypto groups back bill allowing miners and stakers to defer taxes until Three of the largest U.S. crypto advocacy organizations have urged Congress to pass legislation that would allow digital asset miners and stakers to defer taxation on newly created tokens until those assets are sold. In a joint letter sent to the House Ways and Means Committee, the Blockchain Association, Crypto Council for Innovation and The Digital Chamber voiced support for H.R. 9175, the Tax Clarity for Mining and Staking Act, and called on lawmakers to approve the bill as introduced. The groups described the proposal as a “balanced compromise” that would address years of uncertainty surrounding the taxation of mining and staking rewards while preserving eventual income recognition. Bill creates optional tax-deferral framework
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