The Blockchain Association sent a letter in October 2026 to U.S. congressional leaders—including Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson, and House Minority Leader Hakeem Jeffries—urging an overhaul of outdated digital asset tax rules.
Key Recommendations from the Association
Treat payment stablecoins as cash equivalents for tax purposes to eliminate gain/loss reporting on everyday purchases. Classify mining and staking rewards as self-created property that is taxed only upon disposition (sale) rather than upon receipt. Establish a meaningful de minimis tax exemption threshold to free small, everyday digital asset transactions from complex reporting burdens. Restrict digital asset broker reporting obligations strictly to custodial intermediaries that hold or control customer assets, excluding non-custodial developers and infrastructure participants. Expand staking eligibility within retirement accounts, explicitly include blockchain development under research and development (R&D) tax credits, and provide safe harbors for foreign traders on U.S. exchanges.
The group also launched TaxClarityforAmerica.com to allow constituents to track legislative progress and contact their representatives
Key Recommendations from the Association
Treat payment stablecoins as cash equivalents for tax purposes to eliminate gain/loss reporting on everyday purchases. Classify mining and staking rewards as self-created property that is taxed only upon disposition (sale) rather than upon receipt. Establish a meaningful de minimis tax exemption threshold to free small, everyday digital asset transactions from complex reporting burdens. Restrict digital asset broker reporting obligations strictly to custodial intermediaries that hold or control customer assets, excluding non-custodial developers and infrastructure participants. Expand staking eligibility within retirement accounts, explicitly include blockchain development under research and development (R&D) tax credits, and provide safe harbors for foreign traders on U.S. exchanges.
The group also launched TaxClarityforAmerica.com to allow constituents to track legislative progress and contact their representatives