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Crypto Bill’s “Second Front” Opens: Tax Policy Focuses on Mining and Staking, Amid Tax-Deferral Disputes Over Returns

MarsBitNews
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Mars Finance News, June 22 — Major U.S. cryptocurrency industry lobbying organizations jointly sent a letter to the House Taxation Committee, urging progress on the “Tax Clarity for Mining and Staking Act,” and advocating for tax treatment options for crypto asset miners and recipients of staking rewards. The bill was introduced by Republican Congressman Mike Carey. Its core provisions allow taxpayers, when receiving newly mined or staked assets, to choose when to be taxed—either paying taxes when the assets are generated, or paying taxes again when the assets are ultimately sold. Industry associations including the Blockchain Association, Digital Chamber, and Crypto Council for Innovation have all expressed support, saying the current tax regime may force users involved in maintaining network security to bear tax burdens before their assets are realized. Supporters say the proposal does not offer “indefinite deferral,” but instead avoids immediate taxation on income that has not yet been realized, thereby easing miners’ and validators’ cash flow pressure. However, Democratic lawmakers and some external critics worry that the mechanism could be used by large mining companies to defer tax burdens for the long term, particularly in the context of certain publicly listed or politically connected enterprises participating in mining activities, raising potential controversy over policy arbitrage. Meanwhile, the industry’s focus remains on the broader “Digital Asset Market Structure Act” (Clarity Act), but tax issues have become the second key front, and are expected to continue being advanced in parallel with regulatory framework legislation over the coming weeks.
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