US IRS issues safe harbour guidance for crypto staking ETPs
The safe harbour applies to trusts that meet specific conditions, such as single-asset holdings and custodian control.
The Internal Revenue Service (IRS) and the Department of the Treasury have issued guidance creating a safe harbour for cryptocurrency exchange-traded products (ETPs) that stake digital assets. The safe harbour applies to trusts that meet specific conditions The measure, effective for tax years ending on or after 10 November, allows eligible crypto trusts and ETFs to earn staking rewards and distribute them to investors without losing their classification as investment trusts or grantor
