Crypto Tax Bills Rewrite Rules for Miners, Stakers, and Traders
Two new crypto tax bills are being considered by the House Ways and Means Committee, which could have significant implications for miners, stakers, and traders. The proposals address mining and staking rewards, wash-sale restrictions, and constructive-sale rules.
The first bill, H.R. 9175, aims to maintain immediate income recognition for new tokens received through mining or staking activity. Taxpayers eligible under this bill can choose to defer recognition for their tokens, treating the deferred portion as taxable income when sold or disposed of.
The current crypto tax laws require that the receipt and control of rewards from mining and staking result in taxable income, leading to a separate capital gain or loss upon sale. The Joint Committee on Taxation estimated that H.R. 9175 would cost the government $2.956 billion in lost revenue from fiscal 2026 through 2036.
The second bill, H.R. 9172, will apply anti-abuse rules to a newly defined category of specified assets, including most digital assets and related contracts or options. The qualified U.S. dollar-denominated stablecoins will be exempted if they satisfy the provisions of the bill.
Legislators could vote in favor of either draft, amend them, or vote against either draft. If the House panel advances the bills, approval would mark just the beginning of a new process, requiring further stages to pass and become law.