Mike Carey and 17 other bipartisan members of the US House formally asked the Internal Revenue Service to revise the tax treatment of crypto staking rewards before 2026.
A letter dated December 19 presented concerns to the agency, which called the current staking tax approaches burdensome and requested that rewards be taxed only at the time of sale rather than upon receipt.
Carey stated, “This letter is simply requesting fair tax treatment for digital assets and ending the double taxation of staking rewards is a big step in the right direction”.
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The representatives highlighted that millions of Americans stake to help validate blockchain networks, but today’s tax structure may be deterring wider participation.
They warned that current methods place unnecessary strain on filers who are active in digital assets and may discourage continued growth and involvement in blockchain innovation.
The lawmakers also urged the IRS to clarify which technical or operational issues might prevent a rule update before the end of 2026. Their letter framed the issue as related to US priorities for digital asset leadership and sought to align tax guidance with changing crypto technology.
On December 9, Hong Kong opened a public consultation to implement the Organisation for Economic Cooperation and Development (OECD)’s Crypto-Asset Reporting Framework (CARF) and make adjustments to the Common Reporting Standard (CRS). What is the goal of the initiative? Read the full story.
