B3bit

06/23 03:26Tăng giá

Crypto Industry Unites Behind Bill to Fix Tax Rule

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥

#HTX Creation Challenge — Post and Win 1,500U 💥 Crypto Industry Unites Behind Bill to Fix Tax Rules for Miners and Stakers U.S. crypto groups are urging Congress to pass H.R. 9175, which would let miners and stakers defer taxes until assets are sold instead of taxing rewards at receipt. The three largest U.S. crypto trade associations sent a joint letter to the House Ways and Means Committee on June 21, calling for passage of H.R. 9175, the Tax Clarity for Mining and Staking Act, introduced by Representative Mike Carey (R-OH).  The Blockchain Association, Crypto Council for Innovation (CCI), and Digital Chamber described the bill as “a durable compromise” and pressed lawmakers to pass it without changes. The dispute between the IRS and the crypto industry over mining and staking taxes stretches back over a decade.  In 2014, the IRS issued Notice 2014-21, which declared that miners must report the fair market value of any mined Bitcoin as gross income at the moment of creation — not at the point of sale. The rule treats mined coins like wages: taxable on receipt, whether or not the miner ever converts them to cash. The situation for stakers worsened in 2023, when the IRS published Revenue Ruling 2023-14, extending the same logic to proof-of-stake validators. Under that ruling, staking rewards are taxable income the moment a validator earns them, creating a cash-flow problem: validators owe tax on assets they may have no intention of selling. This dynamic pushes U.S.-based miners and stakers into a difficult position. Proof-of-work and proof-of-stake networks secure more than $1.7 trillion in digital assets. The trade groups argue that forcing participants to recognize income on illiquid rewards discourages domestic validation activity and cedes ground to foreign competitors operating under more favorable tax treatment.

1Chia sẻ