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House Republicans Weigh Stripping Crypto Mining, Staking Tax Provisions — BigGo Finance

House Republicans Weigh Stripping Crypto Mining, Staking Tax Provisions — BigGo Finance

House Republicans are reportedly discussing removing tax provisions related to mining and staking from a digital assets tax bill. Ahead of the bill’s scheduled review this Wednesday, Republican members of the House Ways and Means Committee are weighing whether to strip the provisions, according to reports.

Cointelegraph reported the news on the 14th, citing Punchbowl News. The tax bill was originally expected to include language clarifying the timing and method of taxation for digital assets newly acquired through mining or staking. If the provisions are removed, the tax treatment of newly issued or reward-based cryptocurrency would fall under existing statutes and IRS guidance.

However, nothing has been finalized. According to…

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