Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

The crypto lobbying group opposes the five-year staking and mining tax cap

CoinNetwork
robot
Abstract generation in progress
Crypto news, the three major crypto trade organizations have requested Congress to pass the "Mining and Staking Tax Clarification Act," opposing a five-year cap on staking and mining rewards. The Blockchain Association, the Crypto Innovation Committee, and the Digital Chamber of Commerce wrote to committee leaders Jason Smith and Richard Neal on June 21, stating that the bill should "be passed as is" to provide clearer tax rules for miners and stakers. The letter pointed out that under current IRS guidelines, miners and stakers may need to pay taxes upon receiving rewards, based on their market value at the time, known as "phantom income." The H.R. 9175 bill would allow taxpayers to choose when to recognize rewards for tax purposes, either at the time of receipt of the cryptocurrency or defer until sale or disposal. The bill has not yet passed the House Ways and Means Committee and was previously introduced as part of a broader crypto tax proposal.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • 2
  • Share
Comment
Add a comment
Add a comment
PocketValidator
· 5h ago
The fundraising committee is holding back and not making progress, sticking to the old script.
View OriginalReply0
BridgeAnxiety
· 5h ago
A five-year cap is basically forcing the industry to relocate; Singapore and Dubai are laughing all the way to the bank.
View OriginalReply0

  • Pinned

Sitemap