A 168-page report, as cited by PANews and The Block, urges the IRS to tax Bitcoin mining profits at sale to avoid double taxation, a change endorsed by BitFuFu CEO Leo Lu.
On August 5, PANews reported that, according to The Block, the US White House Digital Asset Task Force recommended in a 168-page report that the IRS adjust the tax timing for Bitcoin mining profits by taxing rewards at the time of sale. BitFuFu CEO Leo Lu noted that this shift could lower miners' tax burdens and promote Bitcoin adoption, with similar measures like HR 8149 under consideration in Congress.