Overview
- A coalition led by the Blockchain Association formally asked the House Ways and Means Committee on June 21–22 to advance Rep. Mike Carey’s H.R. 9175 without changes so miners and stakers can defer income until they sell tokens.
- The bill, introduced June 8, would change current IRS practice by taxing newly minted mining and staking rewards at disposal rather than at the moment a taxpayer gains control, which industry says would stop painful cash‑flow mismatches.
- The House committee considered H.R. 9175 during a June 9 legislative hearing that reviewed eight crypto tax measures and heard industry testimony about compliance burdens and investor deterrence.
- Senate Finance has been drafting parallel bipartisan updates on related topics like de minimis reporting and wash‑sale rules but is holding off on final action until the House coalesces on a position.
- Democrats and watchdog groups warn the deferral could be abused by firms seeking indefinite tax delay, and the bill’s grantor‑trust protection for institutional stakers adds another negotiation point before any final law.