US House crypto tax package omits mining, staking reward deferral
The House Ways and Means Committee will review a 114-page crypto tax package that omits a key mining and staking proposal: deferring tax on newly received rewards until the tokens are sold. Without that change, mining and staking rewards would still generally be taxed when received or when the recipient gains control, even if no cash has been sold. The package keeps some mining and staking rules, including treating validator income as ordinary income, determining whether it is U.S.- or foreign-sourced, and allowing certain investment trusts to stake assets without losing trust status. Other provisions would exempt crypto payments of network or transaction fees up to $10 from gains/losses recognition, create special treatment for qualifying U.S. dollar stablecoins, allow certain digital asset loans without taxable sale treatment, simplify accounting for widely traded crypto, extend wash-sale and constructive-sale rules to crypto, and create a voluntary disclosure program for past tax errors.
