U.S. Crypto Groups Urge Congress to Advance Mining and Staking Tax Bill

Current Internal Revenue Service rules require mining and staking rewards to be recognized as income at market value when recipients gain control of them, even if the assets have not been sold, creating a mismatch between tax liabilities, cash flow and prices. Kraken said in April 2026 that nearly one-third of the 56 million tax forms submitted to the IRS in 2025 involved transactions worth less than $1, underscoring the crypto tax-reporting burden.

On June 21, 2026, the Blockchain Association, Crypto Council for Innovation and The Digital Chamber wrote to the House Ways and Means Committee, urging it to pass Mike Carey's bill without amendment. The measure would allow rewards to be taxed either when received or when sold. Steven Horsford has proposed limiting deferrals to five years, and the bill remains under consideration.