Crypto Lobby Unites Behind Bill to Defer Taxes on Mining and Staking Income

Three of crypto's most powerful lobbying groups just told the House Ways and Means Committee to push the Tax Clarity for Mining and Staking Act through unchanged. That bill, from Ohio Republican Mike Carey, would let miners and stakers choose when to pay tax on new assets - either the moment they receive them or when they sell. The industry picked the second option.

Why the Deferral Fight Matters More Than You Think

The letter, signed by Blockchain Association CEO Summer Mersinger, the Digital Chamber, and the Crypto Council for Innovation, argues the current tax code forces people who secure decentralized networks to sell assets before they can reasonably monetize them just to satisfy an immediate tax bill. That's not an edge case - every miner and staker faces that timing mismatch. The bill doesn't give unlimited deferral; it says income is recognized, just not before you can actually cash out.

Mersinger put it bluntly: "The tax code should not force Americans who help secure decentralized networks to sell assets before they can reasonably monetize them." The groups want the bill advanced as-is, no amendments.

The Opponents Have a Point, But the Clock Is Ticking

Democrats on the committee raised concerns about indefinite deferral. The Revolving Door Project specifically pointed at American Bitcoin - a firm where President Trump's sons Eric and Donald Jr. hold a significant stake - as a potential abuser. The industry counters that the bill requires income recognition eventually, just not before you can sell.

This bill is one of several crypto tax proposals floating around. The Senate is currently consumed with the Digital Asset Market Clarity Act, which is the industry's top priority and faces a mid-July make-or-break floor vote. Tax policy is the second front, and with this session winding down, the legislative window is narrow.

If the House moves this bill forward, it sets up a clear framework: mining and staking rewards are taxable only when you can actually sell them, not the second a block is mined. That's a concrete change that would remove a major friction point for anyone running validators or mining rigs in the US.

Source: Crypto's second U.S. lobbying front - tax policy - sees industry push on mining, staking
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