US lawmakers push to fix staking ‘double taxation’ before 2026
NegativeCryptocurrency
- US lawmakers, led by Republican Mike Carey, are advocating for changes to the Internal Revenue Service (IRS) rules regarding cryptocurrency staking, arguing that the current regulations impose an undue administrative burden and may lead to double taxation on unrealized gains. This push comes as the deadline for potential reforms approaches in 2026.
- The proposed changes are significant for cryptocurrency stakeholders, particularly stakers, who face challenges under the existing tax framework. By addressing these issues, lawmakers aim to create a more favorable environment for crypto investments and innovation in the U.S.
- This initiative reflects ongoing debates about cryptocurrency regulation in the U.S., including calls from other lawmakers for the IRS to reassess tax guidelines established during the Biden administration. Additionally, discussions surrounding international tax standards and the potential for new payment methods, such as allowing tax payments in Bitcoin, highlight the evolving landscape of cryptocurrency taxation.
— via World Pulse Now AI Editorial System