Three Crypto Industry Groups Urge Congress to Back Mining and Staking Tax Clarity Act H.R. 9175

According to Foresight News, Blockchain Association, Crypto Council for Innovation, and The Digital Chamber jointly urged the U.S. House Ways and Means Committee to support H.R. 9175, The Tax Clarity for Mining and Staking Act, as proposed by Representative Mike Carey. The organizations called for the bill to pass in its current form, citing decades of tax uncertainty for miners and stakers on the timing and treatment of mining and staking rewards. The act addresses IRS guidance issued in 2014 and 2023, which created conflicting tax treatment standards. Assets secured through proof-of-stake and proof-of-work mechanisms currently exceed 1.7 trillion dollars.
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