Crypto Industry Pushes U.S. Congress to Advance Mining and Staking Tax Reform Bill

Leading crypto advocacy organizations are urging U.S. lawmakers to move forward with legislation aimed at clarifying how digital assets earned through mining and staking are taxed.

In a joint letter sent to the House Ways and Means Committee, the Blockchain Association, Digital Chamber and Crypto Council for Innovation expressed support for the Tax Clarity for Mining and Staking Act, a bill introduced by Representative Mike Carey of Ohio. The groups called on lawmakers to advance the legislation without changes.

Proposed Bill Would Change Tax Treatment of Mining and Staking Rewards

The bill would give crypto miners and staking participants a choice regarding when newly received digital assets are treated as taxable income. Under the proposal, taxpayers could recognize income either when the assets are received or when they are eventually sold.

Supporters argue that the current tax framework can create financial pressure by requiring taxes to be paid before the assets are converted into cash.

Blockchain Association Chief Executive Officer Summer Mersinger said the tax code should not force individuals who help secure decentralized networks to sell their holdings simply to meet immediate tax obligations.

Critics Raise Concerns Over Potential Tax Deferrals

Some Democrats and outside policy groups have questioned whether the proposal could allow certain crypto firms to delay tax payments for extended periods while still benefiting from asset appreciation.

Industry groups rejected those concerns, stating that the legislation does not create unlimited tax deferrals and still requires income recognition while preventing taxation before assets can reasonably be monetized.

Crypto Regulation and Tax Policy Remain Key Priorities

While broader cryptocurrency regulation remains the industry’s main focus, tax policy has become an increasingly important issue in Washington. However, with limited time remaining in the current congressional session, the future of several crypto tax proposals remains uncertain.