Multiple U.S. crypto and blockchain organizations have expressed support for H.R. 9175, the "Tax Clarity for Mining and Staking Act," in a letter to House Ways and Means Committee leaders. The bill, introduced by Representative Mike Carey, aims to clarify tax rules for Proof of Work (PoW) mining and Proof of Stake (PoS) staking rewards. It proposes a compromise under the "self-created assets" tax framework, avoiding immediate taxation on unrealized gains and reducing compliance burdens.
The letter, released by The Blockchain Association, urges Congress to pass the bill without additional provisions, such as a five-year mandatory recognition requirement. The industry groups argue that the legislation would stabilize tax expectations for blockchain validation activities, preventing forced sell-offs and easing compliance for miners and stakers.
U.S. Industry Groups Back H.R. 9175 for Mining and Staking Tax Clarity
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