Crypto Bill Second Front Opens: Tax Policy Focusing on Mining and Staking Rewards Sparks Debate

BlockBeats News, June 22nd – The major lobbying organizations in the U.S. crypto industry jointly wrote to the House Ways and Means Committee, urging the advancement of the "Tax Clarity for Mining and Staking Act," advocating for tax treatment options for cryptocurrency miners and stakers.

The bill, proposed by Republican Congressman Mike Carey, allows taxpayers to choose the taxation timing when they receive new mining or staking assets—either pay taxes when the assets are acquired or defer taxation until they are sold.

Industry associations including the Blockchain Association, Digital Chamber, and Crypto Council for Innovation expressed their support, stating that the current tax system may force users involved in network security to bear tax burdens before the assets are realized.

Supporters argue that the proposal does not offer "indefinite deferral" but rather avoids immediate taxation of income that has not been converted into liquidity yet, thus easing the cash flow pressure on miners and validators.

However, Democratic lawmakers and some external critics are concerned that this mechanism could be exploited by large mining companies for long-term tax deferral, especially in the context of mining activities involving partially publicly traded or politically affiliated firms, leading to potential controversies over policy arbitrage.

Meanwhile, the industry's focus is still on the broader "Digital Asset Market Structure Act," but the tax issue has become the second key front, expected to continue advancing in parallel with regulatory framework legislation in the coming weeks.