Top crypto lobbying groups ask Congress to advance a tax bill on mining and staking rewards without changes, citing the need for clarity.
Crypto Regulation News
A coalition of the largest crypto advocacy groups in the United States has asked the House Ways and Means Committee to advance a tax bill covering mining and staking rewards without amendments. The Blockchain Association, the Digital Chamber, and the Crypto Council for Innovation sent the request in a letter dated Sunday to Committee Chairman Jason Smith and top Democrat Richard Neal.
The bill in question, the Tax Clarity for Mining and Staking Act, was introduced by Ohio Republican Representative Mike Carey. It would let people who earn crypto through mining or staking choose when to pay tax on those assets, either at the time they receive them or at the time they sell them.
Industry Letter Backs Mining and Staking Tax Bill
Blockchain Association CEO Summer Mersinger said the tax code should not force people who help secure decentralized networks to sell their assets before they can reasonably use them. Digital Chamber CEO Cody Carbone called the legislation essential, saying it protects U.S. competitiveness and preserves a bipartisan compromise.
The letter argued that revisiting the agreement already reached on the bill would risk reviving the problems it was meant to solve. The three groups said the bill should move forward as introduced, without further changes from lawmakers.
The bill is one of several crypto tax measures the Ways and Means Committee discussed during a hearing on June 9. Tax policy has become the crypto industry's second-largest legislative priority in Washington, behind the Digital Asset Market Clarity Act, which would create a comprehensive federal regulatory framework for digital assets.
Critics Raise Concerns Over Tax Deferral Provisions
Not everyone supports the bill in its current form. The Revolving Door Project, an outside watchdog group, argued that mining companies could defer taxes indefinitely while still benefiting financially from their holdings. The group pointed to American Bitcoin, a mining firm in which President Donald Trump's sons Eric Trump and Donald Trump Jr. hold a significant stake.
The American Bankers Association also criticized the bill, saying it shows favoritism toward cryptocurrencies over other asset classes and could pull deposits away from traditional banks. The Crypto Council for Innovation has pushed back on that claim.
The industry letter responded directly to the deferral concerns, stating that the bill does not allow unlimited deferral or full parity with other forms of self-created property. Instead, the letter said, the bill ensures income is eventually recognized while avoiding tax obligations before holders can monetize their assets.
The bill remains in an early stage of the legislative process, and Congress has limited time left in its current session. Meanwhile, the Senate is focused on the CLARITY Act, which insiders hope will reach the floor by mid-July. Still, several contentious provisions remain unresolved.
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