Back
Crypto groups urge House tax leaders to pass H.R. 9175 without changes

Crypto groups urge House tax leaders to pass H.R. 9175 without changes

Three major U.S. trade associations say amendments such as a proposed five-year cap on deferral would undermine a bill aimed at clarifying when mining and staking rewards are taxed.

Fact Check
Official Ways and Means and GovInfo records confirm H.R. 9175 is the Tax Clarity for Mining and Staking Act sponsored by Rep. Mike Carey, and that it would clarify taxation of mining/staking rewards by deferring income recognition until disposal rather than taxing immediately on receipt. CoinDesk and Cryptobriefing confirm crypto industry groups urged House tax leaders to pass it. Search results explicitly reference industry groups urging passage 'without' changes. The only minor caveat is that the exact 'without changes' framing is best documented in secondary/aggregator reporting, but the core claim is strongly corroborated by primary government sources and credible news outlets.
Summary

Three major U.S. crypto trade associations have renewed their push for the House Ways and Means Committee to pass Rep. Mike Carey’s H.R. 9175 without changes, arguing the measure would provide long-sought clarity on the tax treatment of mining and staking rewards. The Blockchain Association, Crypto Council for Innovation and Digital Chamber say the bill would let miners and stakers elect to recognize tax either when rewards are received or when the assets are sold, rather than forcing a single treatment under current IRS guidance. Their opposition centers on a proposal by Rep. Steven Horsford to impose a five-year limit on deferral, which Crypto Council for Innovation CEO Ji Hun Kim said would “destroy” the bill. The dispute reflects a broader debate over whether taxing newly created digital assets on receipt creates cash-flow pressure and discourages U.S.-based validation activity. The bill also includes a provision allowing grantor trusts holding digital assets to receive staking rewards without losing trust status.

Terms & Concepts
  • staking rewards: Digital assets earned by participants who help validate transactions and secure proof-of-stake networks.
  • self-created property: A tax treatment under which newly created assets can be taxed when sold rather than when they are first received.
  • grantor trusts: Trust structures in which tax obligations generally pass through to the grantor, often used in investment arrangements.