Cryptocurrency industry groups are pressing U.S. lawmakers to pass the Tax Clarity for Mining and Staking Act without amendments, arguing that changes to the bill could undermine its core purpose of resolving how block rewards are taxed.
Rep. Mike Carey introduced the legislation on June 10, 2026, targeting what the industry considers a fundamental flaw in current tax policy: the treatment of newly created tokens from mining and staking as taxable income at the moment they are received, rather than when they are sold.
Why the Crypto Lobby Wants Congress to Pass the Bill Unchanged
TLDR KEY POINTS
- The Tax Clarity for Mining and Staking Act would defer tax on block rewards until the tokens are sold.
- Industry groups including the Blockchain Association and Coin Center want the bill passed without revisions.
- The bill has been referred to the House Ways and Means Committee.
The push centers on a simple legislative ask: pass the bill as introduced, with no diluting amendments. In legislative terms, “pass as is” means the industry fears that committee markups or floor amendments could narrow the bill’s scope or add conditions that weaken the tax relief it provides.
The Blockchain Association published a formal endorsement of the legislation, backing the position that block rewards should not trigger a taxable event upon creation. Coin Center has similarly argued that block rewards are newly created property, not income, and that Congress must understand this distinction before layering on tax obligations.
The Lobby’s Main Argument
The core industry position is straightforward: when a miner or validator creates new tokens through computational work or staking, those tokens did not exist before. Taxing them as income at creation forces holders to pay taxes on assets they have not yet sold, at a value that may change dramatically before any sale occurs.
This argument has gained traction as both proof-of-work mining and proof-of-stake validation have become significant economic activities. The lobbying effort reflects broader crypto infrastructure expansion that makes tax clarity increasingly urgent for institutional participants.
What the Staking and Mining Tax Bill Would Change
Under current IRS guidance, tokens received as block rewards are treated as ordinary income at fair market value when received. This means miners and stakers owe taxes immediately, even if they never sell the tokens.
The Tax Clarity for Mining and Staking Act would change this by deferring the taxable event to the point of sale or disposition. The tax basis would be set at zero or at the cost of production, meaning the full gain would be realized only when the holder actually converts to fiat or another asset.
Who Benefits if the Bill Passes Unchanged
The most direct beneficiaries are U.S.-based mining operations and staking service providers. Solo stakers on networks like Ethereum and institutional validators would no longer face a tax bill on rewards they have not liquidated.
The bill also matters for the growing number of financial firms entering crypto custody and staking services, similar to how banks are building bridges to crypto through tokenized products. Clearer tax treatment removes a compliance barrier that has discouraged traditional financial institutions from offering staking.
What Congress May Consider Next
The bill, designated H.R. 9175, has been referred to the House Ways and Means Committee. The key procedural question is whether the committee will schedule a markup, and if so, whether members will propose amendments that could alter the bill’s scope.
The Next Watchpoint for Readers
Industry observers are watching for two signals: whether the Ways and Means Committee places the bill on its agenda before the August recess, and whether any competing tax proposals emerge that could absorb or replace its provisions.
If the bill passes unchanged, it would establish a clear precedent for how the U.S. treats newly created digital assets. If it stalls or is amended significantly, the tax ambiguity that has pushed some crypto activity toward friendlier jurisdictions would persist, leaving miners and stakers in regulatory limbo heading into 2027.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.