House crypto tax package omits mining and staking reward deferral

The House Ways and Means Committee released a 114-page crypto tax package ahead of a Sept. 16 markup. The Digital Asset Tax Certainty Act would change tax rules for crypto fees, stablecoins, digital asset loans and wash sales. However, it omits a proposed provision that would defer taxes on mining and staking rewards until taxpayers sell the assets.

The omitted language came from Rep. Mike Carey’s Tax Clarity for Mining and Staking Act, introduced in June. That measure would let taxpayers elect treatment similar to self-created property for newly minted digital assets. Without that change, existing tax treatment remains in place. The IRS continues to treat staking rewards as taxable income when received or when taxpayers gain control of them.

The package still addresses validation activities and other digital asset rules. It would also exclude certain network fees below $10 from taxable gains or losses and extend anti-abuse rules to crypto. The committee will consider the bill Wednesday, leaving room for amendments before any House vote.