US lawmakers urge IRS to end double taxation on crypto staking before 2026
PositiveCryptocurrency
- Eighteen bipartisan U.S. House lawmakers, led by Republican Representative Mike Carey, have urged the Internal Revenue Service (IRS) to reconsider its taxation policies on cryptocurrency staking, highlighting concerns over potential double taxation and administrative burdens. The lawmakers have formally requested IRS acting Commissioner Scott Bessent to address these issues before the end of 2026.
- This development is significant as it reflects growing legislative attention on cryptocurrency taxation, which could impact the regulatory landscape for investors and stakeholders in the crypto market. By advocating for changes, lawmakers aim to create a more favorable environment for cryptocurrency staking activities.
- The push to amend IRS regulations on crypto staking is part of a broader dialogue surrounding cryptocurrency taxation in the U.S., where concerns about double taxation have been raised previously. This ongoing debate underscores the complexities of integrating cryptocurrency into existing tax frameworks, as well as the varying perspectives on how to effectively regulate this evolving financial sector.
— via World Pulse Now AI Editorial System