US lawmakers push to fix staking ‘double taxation’ before 2026
A bipartisan group of 18 U.S. lawmakers is urging the Internal Revenue Service (IRS) to revise crypto staking tax laws before 2026. In a letter led by Republican Mike Carey, they argue the current rules result in "double taxation" by taxing staking rewards both when received and again when sold. They propose taxing rewards only at the time of sale to reflect the staker's actual economic gain. The lawmakers claim the existing policy discourages participation in staking, which is essential for blockchain security and U.S. leadership in digital assets. Separately, representatives Miller and Horsford introduced a draft proposal to exempt small stablecoin transactions from capital gains taxes and allow a deferral option for staking and mining income recognition for up to five years.
cointelegraph12/22 04:30
