In brief
- House Republicans are pushing the IRS to scrap a 2023 rule that taxes all crypto staking rewards as income.
- They argue staking rewards, which are generated by proof-of-stake networks, should only be taxed when sold off.
- The IRS rule, which the Trump administration has supported overhauling, locks in for the 2026 tax year in just 12 days.
A cohort of Republican House members is pushing the Trump administration to change tax rules on crypto staking rewards before they are locked in for the 2026 tax year.
In a letter sent late Thursday to Treasury Secretary Scott Bessent, a group of 19 House Republicans urged the administration to immediately repeal a 2023 IRS rule declaring staking rewards to be taxable income as soon as they are…
