Three of the largest crypto lobbying organizations in the US have urged Congress to pass legislation that would change how mining and staking rewards are taxed, in a coordinated industry push against the Internal Revenue Service's current approach to digital asset taxation.
Crypto Trade Groups Urge Congress To Pass Mining, Staking Tax Bill
23 June 2026 - 13:59 CEST
By Sandmark staff
The Blockchain Association, the Crypto Council for Innovation and the Digital Chamber said in a joint letter to the House Ways and Means Committee that lawmakers should approve the Tax Clarity for Mining and Staking Act (H.R. 9175) as introduced, arguing that the measure would provide long-sought certainty for taxpayers and blockchain network participants.
The bill, introduced by Representative Mike Carey, would allow taxpayers to defer taxation on newly created digital assets earned through mining and staking until they are sold, rather than taxing them at the point of receipt.
The industry groups argued that the current framework creates liquidity challenges and can force taxpayers to sell digital assets simply to meet tax obligations. They also said existing guidance has failed to provide clear rules on the taxation of validation rewards.
The letter represents the latest attempt by the crypto industry to reshape US tax policy as lawmakers weigh a broader package of digital asset reforms.
Industry seeks reversal of IRS approach
The debate centres on two pieces of IRS guidance: Notice 2014-21, issued in March 2014, which requires miners to include the fair market value of mined bitcoin in gross income on the date it is mined; and Revenue Ruling 2023-14, published in August 2023, which holds that staking rewards are immediately taxable income when received.
Industry participants have long argued that taxing rewards before they are sold can result in taxpayers owing tax on assets whose value may later decline, effectively forcing them to liquidate holdings to fund a tax bill rather than because they chose to exit a position.
The organisations described H.R. 9175 as a compromise measure rather than a full exemption, saying it ensures income is eventually recognised while avoiding immediate taxation before a taxpayer has monetised the asset. The Joint Committee on Taxation has assessed the bill, finding that an alternative amendment imposing a mandatory five-year recognition cycle would yield negligible revenue while imposing significant compliance costs on taxpayers and the IRS alike, according to the letter.
The bill also has legislative backing beyond the three organisations. In November 2025, Senator Todd Young wrote to Treasury Secretary Scott Bessent urging the IRS to reconsider its treatment of staking rewards. The following month, Representative Carey led 18 colleagues in a further letter pressing for updated guidance ahead of the 2026 tax year.
Part of wider crypto tax overhaul
The lobbying effort comes as Congress considers a range of digital asset tax proposals covering issues such as stablecoins, crypto lending, charitable donations and reporting requirements.
Lawmakers have increasingly focused on tax policy as part of a wider effort to establish a clearer regulatory framework for digital assets in the US. Alongside tax reforms, Congress is also advancing legislation aimed at clarifying which federal agencies oversee different segments of the crypto market.
The trade groups warned that reopening negotiations on the bill could undermine a compromise they say has already secured broad, bipartisan support. They urged lawmakers to preserve the legislation in its current form, arguing that clearer tax rules would help keep blockchain validation activity and related innovation in the US.
