US lawmakers urge IRS to end double taxation on crypto staking before 2026

cryptonews2025-12-22

18 bipartisan U.S. House lawmakers have urged the Internal Revenue Service to reexamine the country’s taxation laws on cryptocurrency staking. Summary A group of U.S. lawmakers has urged the IRS ...

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Specifically, we request additional information on the rationale and analysis underlying the Ruling and urge the IRS to promptly review and update guidance on this issue before the 2026 tax year begins,” the letter states.\nUnder the IRS’s 2023 guidance, crypto investors are required to include staking rewards in their gross income once they gain dominion and control over them, and again if those rewards are later sold at a different price. That second transaction must be reported as a capital gain or loss.\nAs a result, this leads to a double taxation event, a point that has been heavily criticized by crypto proponents.\nIn a separate statement, Carey said the letter seeks to end this double taxation of staking rewards, calling it “a big step in the right direction.”\nTo address this issue, the lawmakers suggest taxing staking rewards only at the time of sale, framing the change as “critical to ensuring that stakers are taxed based on a correct statement of their actual economic gain, are able to hold their staking rewards throughout the year without facing unreasonable tax risk in the event of price changes.”\nLawmakers have also asked the IRS to clarify if there are any “administrative barriers” that could prevent the agency from issuing updated guidance before 2025 comes to a close.\nSeveral industry leaders have supported Carey’s initiative as they stress that this is essential for the U.S. to retain its position as the crypto capital of the world, in line with President Donald Trump’s administration, which has consistently maintained a strong pro-crypto stance.\n“Mining and staking are fundamental to securing public blockchains like Solana. The U.S. tax code should encourage this critical infrastructure activity rather than impose unworkable compliance burdens on everyday Americans. Fair taxation isn’t just good policy, it’s essential if America wants to remain the crypto capital of the world,” said Miller Whitehouse-Levine, CEO of the Solana Policy Institute.\n“Staking is an essential component of modern blockchain infrastructure, and U.S. tax rules must reflect the economic reality of how these rewards are created and earned.” added Ji Hun Kim, CEO of the Crypto Council for Innovation.\nLawmakers introduce PARITY Act after past attempts failed\nLast year, bipartisan lawmakers Wiley Nickel and Drew Ferguson introduced the Providing Tax Clarity for Digital Assets Act to clarify taxation around staking rewards and eliminate double taxation. However, the bill stalled in committee and did not advance.\nMore recently, Representatives Steven Horsford and Max Miller have introduced the PARITY Act, which proposes a different approach by allowing taxpayers to defer recognition of staking and mining rewards for up to five years, rather than taxing them immediately upon receipt.\nBeyond staking, the legislation wants to ease tax obligations on crypto users by introducing exemptions for small stablecoin transactions from capital gains taxes.\n\n\n\n\n\n                Read more:\n            \n\n                New crypto tokens are failing in 2025: 85% below TGE prices","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593107721","isCrawlerRequest":true}