US House crypto tax package omits mining, staking reward deferral

The US House Ways and Means Committee will consider a 114-page crypto tax package on Wednesday that leaves out a provision that would have allowed miners and stakers to defer taxation of rewards until the tokens are sold.The Digital Asset Tax Certainty Act, H.R. 10357, was published alongside the committee’s markup notice on Monday. The package does not include the reward-timing provision contained in Representative Mike Carey’s Tax Clarity for Mining and Staking Act, introduced in June.The provision would have allowed taxpayers to choose between recognizing newly created tokens as income when received or treating them similarly to self-created property and paying tax when sold.Without the provision, mining and staking rewards would remain taxable when received or brought under the recipient’s control, potentially before they are sold for cash.The package comes just as the Senate is considering whether to advance the CLARITY Act, which would determine how the US Securities and Exchange Commission and Commodity Futures Trading Commission divide oversight of the US crypto market.House crypto package covers fees, stablecoins, wash salesTo be sure, the bill retains some of its mining a...