U.S. crypto groups push mining, staking tax bill in House

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Crypto mining and staking tax bill

Highlights

U.S. crypto advocacy groups urged the House Ways and Means Committee to advance Rep. Mike Carey's Tax Clarity for Mining and Staking Act without changes.
The bill would allow miners and stakers to defer income recognition until asset sale, addressing concerns about immediate tax obligations on received tokens.
Democratic lawmakers and critics argue the proposal could enable mining firms, like American Bitcoin, to defer taxes indefinitely; legislative progress remains uncertain.

House tax proposal gains industry backing

As first reported by CoinDesk, leading U.S. crypto advocacy groups have asked the U.S. House Ways and Means Committee to advance Representative Mike Carey's Tax Clarity for Mining and Staking Act without changes. The letter, dated Sunday and addressed to the committee's Republican chairman and senior Democrat, argues that the measure would clarify how mined tokens and staking rewards are treated for tax purposes.

The bill would give miners and staking recipients the option to defer recognition of income until they sell the assets, rather than treating the assets as immediately taxable when they are received. In a statement released with the letter, Blockchain Association CEO Summer Mersinger said the tax code should not force network participants to sell assets before they can reasonably monetize them just to meet an immediate tax obligation.

The push on taxation is emerging as the industry's second major lobbying priority, alongside the broader Digital Asset Market Clarity Act, which is still under debate in the U.S. Senate. Tax issues were also a central topic at a June 9 committee hearing that reviewed several crypto-related bills, including Carey's proposal.

Political concerns and legislative outlook

Democrats on the committee have raised concerns about how the proposal could work in practice, while outside critics including the Revolving Door Project argue that some mining companies could defer taxes indefinitely while still benefiting financially from their holdings. The criticism has also pointed to American Bitcoin, in which President Donald Trump's sons Eric and Donald Jr. hold a significant stake, as an example of how the measure could be used.

Industry groups reject that characterization, saying the bill does not allow unlimited deferral and still requires income recognition while avoiding taxation before assets can be monetized. The dispute highlights a broader tension in crypto tax policy, where companies want rules that reflect the timing of actual cash realization, while critics warn against creating new deferral opportunities.

The latest House tax bills are still at an early stage, and their prospects remain uncertain as the current congressional session enters its final months. In the Senate, attention remains focused on the Clarity Act, with crypto advocates hoping it reaches the floor by mid-July even though several of its most contested provisions are still being negotiated.

Our earlier article on ICE and OKX’s joint venture highlighted how major exchange operators and crypto firms are moving deeper into regulated U.S. finance, targeting tokenised assets, digital-asset derivatives, and 24/7 trading infrastructure. We noted the partnership’s plan to pursue key regulatory licences and linked it to widening political engagement with digital assets, as the industry ramps up lobbying and traditional market players expand blockchain-based offerings.

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