NEW: 🇺🇸 Crypto groups urges congress to pass TAX Clarity Act.
Digital asset trade groups is urging U.S. lawmakers to proceed a pending crypto tax measure intact as debate over staking and mining rules moves through Congress.
The bill would defer taxation on mining and staking rewards until the underlying assets are sold. It also creates an elective process that lets taxpayers choose whether to pay taxes when the assets are received or when they are sold.
For the crypto sector, the outcome could shape how mining and staking are taxed and influence the operating environment for exchanges, platforms and token holders.
Digital asset trade groups is urging U.S. lawmakers to proceed a pending crypto tax measure intact as debate over staking and mining rules moves through Congress.
The bill would defer taxation on mining and staking rewards until the underlying assets are sold. It also creates an elective process that lets taxpayers choose whether to pay taxes when the assets are received or when they are sold.
For the crypto sector, the outcome could shape how mining and staking are taxed and influence the operating environment for exchanges, platforms and token holders.
