Foresight News reports that the Blockchain Association announced it had written to the leadership of both chambers of the U.S. Congress, urging lawmakers to advance bipartisan digital asset tax legislation. The tax principles proposed by the association include setting a meaningful tax-free threshold for small transactions; treating mining and staking rewards as newly created property and taxing them upon disposition; protecting taxpayer privacy in tax reporting requirements; and basing tax rules on economic substance.

The association also launched the “U.S. Tax Clarity Initiative” website to help the public understand its proposals and congressional progress, and to share their views with lawmakers.