Crypto lobby fights five-year cap in staking and mining tax bill

cryptonews

Yesterday

Three crypto trade groups have asked Congress to pass the Tax Clarity for Mining and Staking Act without changes. Summary Crypto lobby groups want Congress to pass H.R. 9175 without changes to ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2645000792"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2645000792\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2645000792?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-23 13:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2645000792","market":"other","top_or_hot":-1,"title":"Crypto lobby fights five-year cap in staking and mining tax bill","media":"cryptonews","content":"<div>\n<p>Three crypto trade groups have asked Congress to pass the Tax Clarity for Mining and Staking Act without changes. \n\n\nSummary\n\n\n\nCrypto lobby groups want Congress to pass H.R. 9175 without changes to ...</p>\n\n<a href=\"https://crypto.news/crypto-lobby-fights-five-year-cap-in-staking-and-mining-tax-bill/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto lobby fights five-year cap in staking and mining tax bill</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto lobby fights five-year cap in staking and mining tax bill\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-23 13:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/crypto-lobby-fights-five-year-cap-in-staking-and-mining-tax-bill/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Three crypto trade groups have asked Congress to pass the Tax Clarity for Mining and Staking Act without changes. \n\n\nSummary\n\n\n\nCrypto lobby groups want Congress to pass H.R. 9175 without changes to ...</p>\n\n<a href=\"https://crypto.news/crypto-lobby-fights-five-year-cap-in-staking-and-mining-tax-bill/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DAPP","symbol_name":"VanEck Digital Transformation ETF","start_time":0,"source_url":"https://crypto.news/crypto-lobby-fights-five-year-cap-in-staking-and-mining-tax-bill/","article_id":"2645000792","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/crypto-lobby-fights-five-year-cap-in-staking-and-mining-tax-bill/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2645000792","pubTimestamp":1782193370,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Three crypto trade groups have asked Congress to pass the Tax Clarity for Mining and Staking Act without changes.Crypto lobby groups want Congress to pass H.R. 9175 without changes to protect validator rewards.The bill lets miners and stakers choose tax timing when receiving or selling crypto rewards.Banks argue deferred taxation would favor crypto yield over dividends, interest and other savings products.The Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber made the request in a June 21 letter to committee leaders Jason Smith and Richard Neal.The groups said the bill should pass “as introduced” because it would give miners and stakers clearer tax rules. They wrote that “after years of uncertainty,” the proposal offers a compromise for builders and lawmakers.The American Bankers Association has opposed the measure. The banking group said the bill would treat crypto rewards differently from dividends, bank interest, and other returns t","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"DAPP":"VanEck Digital Transformation ETF","DIME":"CoinShares Altcoins ETF","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","TEKX":"SPDR Galaxy Transformative Tech Accelerators ETF","BITW":"Bitwise 10 Crypto Index ETF","BKCH":"AdvisorShares Sabretooth ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","STCE":"Schwab Crypto Thematic ETF","BITQ":"Bitwise Crypto Industry Innovators ETF"},"translate_title":"加密货币游说团体反对质押和采矿税法案的五年上限","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LFGY":0.9,"DIME":0.9,"BKCH":0.9,"GDLC":0.9,"BITQ":0.9,"DAPP":0.9,"STCE":0.9,"CRPT":0.9,"TEKX":0.9,"BITW":0.9,"NCIQ":0.9},"content_text":"Three crypto trade groups have asked Congress to pass the Tax Clarity for Mining and Staking Act without changes. \n\n\nSummary\n\n\n\nCrypto lobby groups want Congress to pass H.R. 9175 without changes to protect validator rewards.\nThe bill lets miners and stakers choose tax timing when receiving or selling crypto rewards.\nBanks argue deferred taxation would favor crypto yield over dividends, interest and other savings products.\n\n\n\nThe Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber made the request in a June 21 letter to committee leaders Jason Smith and Richard Neal.\nThe groups said the bill should pass “as introduced” because it would give miners and stakers clearer tax rules. They wrote that “after years of uncertainty,” the proposal offers a compromise for builders and lawmakers.\nBill targets tax timing for rewards\nThe dispute centers on when mining and staking rewards should be taxed. Under current IRS guidance, miners and stakers may owe tax when they receive rewards, based on the market value at that time. The crypto lobby calls this “phantom income” because users may owe tax before they sell the asset.\nH.R. 9175 would let taxpayers choose when to recognize rewards for tax purposes. They could pay tax when they receive the crypto or defer it until they sell or dispose of it. The groups said this approach keeps income taxable while reducing pressure to sell tokens to cover tax.\nThe letter also said proof-of-work and proof-of-stake networks secure more than $1.7 trillion in value. The groups argued that clearer rules would help ensure these networks “can be secured by Americans in America.”\nFive-year cap draws industry warning\nThe bill has not moved beyond the House Ways and Means Committee. It was introduced before a June legislative hearing as part of a wider crypto tax package. The package also includes the PARITY Act, which would direct the IRS to review small crypto transactions.\nRep. Steven Horsford filed an amendment that would limit reward tax deferral to five years. Crypto Council for Innovation CEO Ji Hun Kim opposed the change in a post on X, saying it would “break” the bill and raise “negligible revenue.”\n\nFor years, CCI has argued for proper taxation of staking rewards. Rep. Horsford’s amendment would unfortunately break H.R. 9175, replacing it with a 5-year forced-sale clock on staking and mining rewards that JCT says raises negligible revenue. We greatly appreciate his… https://t.co/Lmt4OfxfxI— Ji Kim (@_jikim) June 22, 2026\n\nThe joint letter made a similar argument. It said a five-year limit would add recordkeeping costs and force taxpayers to track time-based recognition events across wallets and accounts. The groups said the amendment would bring back the problems the bill seeks to fix.\nBanks and tax critics push back\nThe American Bankers Association has opposed the measure. The banking group said the bill would treat crypto rewards differently from dividends, bank interest, and other returns that taxpayers report each year. It said the proposal would show “clear favoritism” for crypto over other asset classes.\nThe banking group argued that delayed taxation could help crypto rewards compound in ways common savings products cannot. It said the bill could reshape how Americans compare yield from crypto, bank accounts, and traditional investments.\ncrypto.news earlier reported that the broader House crypto tax package drew scrutiny at a June 9 hearing. Mike Kaercher of the NYU Tax Law Center warned that reward deferral could act as a tax subsidy and raise abuse concerns. Coinbase tax executive Lawrence Zlatkin said current rules create confusion, hard compliance work, and pressure on the IRS.\nThe debate now sits with Congress. Crypto groups want the bill passed unchanged to settle reward tax timing. Banking groups and tax critics want lawmakers to avoid giving digital assets special treatment in the tax code.\n\n\n\n\n\n                Read more:\n            \n\n                Bithumb to list Canton in KRW market as CC momentum stays weak","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}