House Ways and Means Committee Republicans consider dropping crypto tax provisions

House Republicans on the Ways and Means Committee are weighing whether to strip out provisions that would change how crypto mining and staking rewards are taxed, a move that could reshape one of the most consequential pieces of digital asset legislation currently moving through Congress. The provisions in question come from H.R. 9175, the Tax Clarity for Mining and Staking Act, introduced on June 8, 2026, by Rep. Mike Carey (R-OH). The bill’s core idea is straightforward: let miners and stakers defer paying taxes on newly created crypto rewards until they actually sell the assets, rather than treating those rewards as taxable ordinary income the moment they hit a wallet. Why the tax treatment matters Under the IRS’s current framework, if you validate transactions on a blockchain and receive tokens as a reward, you owe income tax on the fair market value of those tokens at the time you receive them. Sell or don’t sell, the tax bill arrives regardless. H.R. 9175 would fix this by pushing the taxable event to the point of sale, aligning the treatment more closely with how other property transactions work in the tax code. The bipartisan math The reason Republicans are considering dropp...