US House crypto tax package leaves out mining and staking deferral

The US House Ways and Means Committee is set to review a 114page crypto tax package that updates several digital asset tax rules but does not include a provision to defer taxes on mining and staking rewards until the tokens are sold. The package, known as the Digital Asset Tax Certainty Act, would keep the current timing for taxing mining and staking rewards, meaning they would generally be taxed when received or when the taxpayer gains control of them. A separate proposal introduced earlier by Representative Mike Carey had sought to give taxpayers the option to defer tax until sale. The bill still includes other crypto tax changes. It would address transaction fees, stablecoins, digital asset lending, wash sales, and simplified accounting for widely traded crypto assets. It would also allow some blockchain validator income to be treated as ordinary income and set rules for where that income is sourced. The committee is expected to consider the package as lawmakers continue broader debates over how digital assets should be regulated and taxed in the United States.