The crypto lobbying group urges the U.S. Congress to pass the mining and staking tax bill directly, without further amendments.

Golden Finance reports that on June 23, according to Cointelegraph, three major crypto lobbying organizations—the Blockchain Association, the Crypto Innovation Committee, and the Digital Chamber of Commerce—jointly sent a letter to the U.S. Congress, urging that the “Mining and Staking Tax Clarity Act” be passed as-is without further amendments. The bill allows miners and stakers to choose to pay taxes either when they receive crypto rewards or when they sell assets, aiming to address liquidity issues caused by “phantom income taxation.” Democratic Congressman Steven Horsford proposed an amendment to limit the deferral of crypto reward taxes to five years, but the CEO of the Crypto Innovation Committee said the amendment would “undermine” the bill and would only generate “insignificant revenue.” The American Bankers Association opposed the bill, saying it gives cryptocurrencies a “significant advantage,” while crypto lobbying groups argued that reopening negotiations over a compromise reached in consensus would “resurrect the issues the bill aims to solve.”
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