House panel to consider crypto tax package including mining, staking provisions

  • The House Ways and Means Committee will mark up crypto tax legislation on September 16.
  • H.R. 9175 would let miners and stakers defer income recognition until token sales.
  • Senate Republicans released a revised CLARITY Act version on September 10.

The U.S. House Ways and Means Committee is scheduled to hold a Sept. 16 markup on cryptocurrency tax legislation, including H.R. 9175, which would let miners and stakers defer income recognition on newly generated tokens until sale. The measure would depart from current IRS guidance requiring taxpayers to include the fair market value of mining and staking rewards in gross income when received or when they obtain dominion and control. A broader package also includes a proposal to apply wash-sale rules to digital assets and measures intended to reduce crypto transaction-reporting burdens. Unconfirmed reports indicate some committee Republicans are discussing removal of the mining and staking provisions, while earlier reporting said lawmakers had also considered a five-year deferral limit. Congress is separately advancing the CLARITY Act, which addresses digital-asset market oversight and business registration.

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House panel to consider crypto tax package including mining, staking provisions - CoinPost Terminal