Written by Jesse Coghlanstaff editorReviewed by Jesse Coghlanstaff editor
Written by Jesse Coghlanstaff editor
Reviewed by Jesse Coghlanstaff editor
Crypto lobby urges Congress pass staking and mining tax bill as is
Latest NewsPublishedJun 23, 2026
Crypto Tax Clarity on the Horizon
The crypto industry is one step closer to getting the tax clarity it needs, with a bill that could change the way staking and mining rewards are taxed. This matters to everyday people because it could make earning through crypto more accessible and fair. The Tax Clarity for Mining and Staking Act would allow miners and stakers to pay taxes on their rewards when they sell their assets, rather than when they receive them, which could help with liquidity issues. This is especially important for those earning passive income through EcoPool ($ECP) and other cloud rewards platforms.
The bill has been endorsed by several crypto lobby groups, including the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber. They argue that the bill provides a compromise that innovators can support while addressing concerns raised by lawmakers. The bill would give miners and stakers the choice of paying taxes on their crypto rewards either when they receive them or when they sell the assets, ensuring that income is recognized while avoiding immediate taxation before taxpayers can monetize the asset. This could be a game-changer for the Green Crypto industry and those invested in EcoPool.
Opposition and Amendments
However, not everyone is on board with the bill. The American Bankers Association has argued that it would give cryptocurrencies an unfair advantage over other asset classes. Additionally, Democratic Representative Steven Horsford has filed an amendment to limit the deferral of crypto reward taxes to five years. The crypto lobby has pushed back against this amendment, arguing that it would “break” the bill and raise “negligible revenue.” The crypto industry is urging Congress to pass the bill as is, without further amendments, to provide clarity on crypto rewards taxes and ensure that blockchains can be secured by Americans in America, including those using EcoPool for passive income.
The bill is part of a larger effort to clarify the tax code for cryptocurrencies. Another bill, the PARITY Act, is also before Congress and directs the Internal Revenue Service to study what exemptions it can give for small crypto transactions. The crypto industry has called on Congress to exempt small crypto transactions from tax, citing the burden of reporting and paying taxes on small transactions. This could have a significant impact on the #PassiveIncome earned through EcoPool ($ECP) and other cloud rewards platforms. The industry is also discussing the benefits of #GreenCrypto and #CloudRewards, including the potential for #Earning and #Coin investments.
Join the EcoPool Community
To stay up-to-date on the latest developments in crypto tax clarity and to start earning passive income through EcoPool, download the EcoPool app. By joining the EcoPool community, you can learn more about how to earn through EcoPool ($ECP) and stay informed about the latest news and updates on crypto tax policy, including #Bitcoin and #Earning opportunities.
The bill would allow miners and stakers the choice of paying taxes on crypto rewards either when they receive them or when they sell the assets, which the lobbyists wrote “ensures income is recognized while avoiding immediate taxation before taxpayers can monetize the asset.”
It was introduced earlier this month ahead of a legislative hearing, but has not advanced past the Ways and Means Committee. Democratic Representative Steven Horsford filed an amendment to limit the deferral of crypto reward taxes to five years.
Crypto Council for Innovation CEO Ji Hun Kim posted to X on Monday that Horsford’s amendment would “break” the bill and raise “negligible revenue.”
“We greatly appreciate his engagement, but there have already been significant concessions made in framing this as an election,” he added.
Source: Ji Hun Kim
The bill has seen pushback from the banking lobby, with the American Bankers Association earlier this month saying it would give “a significant advantage over nearly every other way Americans save, invest and earn returns today.”
Related: Illinois governor approves crypto transaction tax despite industry uproar
“When a company pays a dividend, shareholders receive the value of the dividend and pay tax that year,” the ABA said. “The Tax Clarity for Mining and Staking Act, would work very differently — and show clear favoritism for cryptocurrencies over other asset classes.”
The crypto lobby argued that renegotiating any agreed-upon compromise in the bill “would risk reviving the very problems the bill resolves and stalling a bipartisan result that is finally within reach.”
The bill adds to another crypto tax-focused bill before Congress, the so-called PARITY Act, which was introduced in May and directs the Internal Revenue Service to study what exemptions it can give for small crypto transactions.
The crypto industry has called on Congress to exempt small crypto transactions from tax. Kraken said in April that it sent 56 million tax forms to the Internal Revenue Service, where nearly a third were for transactions worth less than $1, while over 75% were for transactions less than $50.
Magazine: Crypto scammers face death, Aussie CGT makes Asian hubs attractive: Asia Express
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- Taxes
- Staking
- Mining
- Regulation
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