Crypto Tax Package Heads to Committee with Mining Provision Removed

The US House Ways and Means Committee is set to review a cryptocurrency tax package, which includes the full text of the FULL HOUSE Act. The package has been released for the committee's September 16 markup.

Republicans had removed a key provision on the timing of taxation for mining and staking rewards from the final version of the package. This change was made after disagreements with Democrats over the provision continued.

The omission of this provision is significant, as it means that cryptocurrency mining and staking rewards will be taxed differently than other types of income.