The primary advocacy groups in the crypto sector have urged the tax committee of the U.S. House to push forward a bill aimed at clarifying the tax treatment of assets derived from mining and staking activities.

— Despite facing some criticism regarding a U.S. House bill that would permit recipients of mined crypto or staking rewards to delay recognizing these as income, leading crypto organizations are advocating for the bill’s advancement without modifications.

— Republican Representative Mike Carey has proposed legislation allowing miners to defer the taxable event of acquiring new assets, rather than categorizing them as immediate income.

— The topic of taxation has garnered significant attention from the crypto industry recently, even as discussions about the final aspects of the crypto market structure bill continue in the U.S. Senate.

Prominent U.S. crypto lobbying organizations have come together to request that the U.S. House of Representatives support a bill that grants digital asset miners and those receiving staking rewards the choice of when to incur a tax liability on newly acquired assets — either upon receipt or when they eventually sell the cryptocurrency.

This approach is part of one of several crypto tax proposals currently under consideration by the U.S. House Ways and Means Committee, particularly the Tax Clarity for Mining and Staking Act put forward by Representative Mike Carey, which should be expedited in Congress according to an industry letter addressed to the Republican chair and senior Democrat of the tax committee, dated Sunday.

«The tax code should not compel Americans who contribute to the security of decentralized networks to liquidate assets prematurely to meet an immediate tax obligation,» stated Summer Mersinger, CEO of the Blockchain Association, in a joint statement with leaders from the Digital Chamber and the Crypto Council for Innovation, who collectively sent the letter advocating for the legislation to be moved forward as is.

While the industry’s primary focus remains on the Digital Asset Market Clarity Act that seeks to establish a comprehensive U.S. regulatory framework for crypto activities, the second priority has shifted toward crypto taxation, which was the main focus during a committee hearing on June 9 that examined several bills, including Carey’s proposal from Ohio.

Democratic members of the committee expressed concerns about how the industry might implement this bill in practice, with external critics like the Revolving Door Project suggesting that crypto mining companies — such as American Bitcoin, where President Donald Trump’s sons Eric and Donald Jr. hold significant stakes — could indefinitely defer taxes while still benefiting financially from their assets.

In response, the industry letter emphasized that the bill «does not allow for unlimited deferral or complete parity with all forms of self-created property; rather, it ensures that income is recognized while avoiding immediate taxation before taxpayers can monetize the asset.»

Over the years, various legislative efforts have addressed crypto tax policy. The latest House proposals are still in the early stages of the legislative process, and given the current congressional session is nearing its conclusion, the prospects for these bills remain uncertain at this point.

Currently, the Senate’s capacity to address crypto issues is occupied with the Clarity Act, which is still undergoing extensive negotiations as the deadline approaches. Crypto stakeholders are hopeful it will reach the Senate floor by mid-July, although several contentious provisions have yet to be fully resolved.

— 1

— 2

— 3

— 4

— 5

— 6

— 7

— 8

— 9

— 10

In May, combined exchange volumes saw a decline of 3.45% to $4.41 trillion, marking the lowest level since September 2024. In contrast, RWA perpetual futures volumes increased by 10.4%, achieving a new all-time high.

In May, combined exchange volumes saw a decline of 3.45% to $4.41 trillion, marking the lowest level since September 2024. In contrast, RWA perpetual futures volumes increased by 10.4%, achieving a new all-time high.