A coalition of leading U.S. crypto advocacy groups this week formally asked the House tax-writing committee to advance legislation that would clarify how mining and staking rewards are taxed. The request, made in a letter dated June 22 to the House Ways and Means Committee, marks a fresh push for legal certainty in a sector that has long grappled with ambiguous IRS guidance.
The letter to Ways and Means
According to the facts provided, the groups urged the committee to move the bill forward. The legislation, introduced earlier this year, would treat proof-of-work mining rewards and proof-of-stake staking rewards as property created by the taxpayer. That means no tax liability would arise until the assets are sold — a significant departure from the current ad hoc approach many filers face.
Staking and mining tax headache
Under existing IRS guidance, the tax treatment of mining and staking income remains unsettled. Some taxpayers have reported audits and penalties for treating rewards as property created rather than as income received at market value. The bill aims to end that confusion by setting a single, clear rule for both proof-of-work and proof-of-stake networks.
No markup yet
The committee has not yet scheduled a markup for the bill. Advocacy groups are pushing for action before the August recess, but the timeline remains uncertain. The letter didn't specify whether the bill has gained cosponsors or bipartisan support beyond what's already public.
The groups' next step is likely to follow up with committee staff and possibly rally industry support ahead of any hearing. For now, the bill sits in a queue of tax legislation competing for floor time in an election year — and crypto advocates know the window won't stay open forever.
