CoinDesk
The Blockchain Association, the Digital Chamber, and the Crypto Council for Innovation sent a joint letter to the House Ways and Means Committee on Sunday, urging lawmakers to advance the Tax Clarity for Mining and Staking Act as written. The bill, introduced by Ohio Republican Mike Carey, would let miners and staking reward recipients choose between recognizing the new assets as taxable income at the moment of receipt or at the moment of sale.
Why it matters
The lobbying push signals the second major legislative front for U.S. crypto advocacy, after the Digital Asset Market Clarity Act, the broader market structure bill still grinding through Senate negotiations. Blockchain Association CEO Summer Mersinger framed the argument in industry-friendly terms: "The tax code should not force Americans who help secure decentralized networks to sell assets before they can reasonably monetize them simply to satisfy an immediate tax obligation." The letter, also signed by leaders of the Digital Chamber and the Crypto Council for Innovation, argues the bill "does not provide unlimited deferral or full parity with all forms of self-created property; instead, it ensures income is recognized while avoiding immediate taxation before taxpayers can monetize the asset."
Market impact
Democrats on the committee have raised concerns about how the deferral could be used in practice, and outside critics such as the Revolving Door Project pointed to politically connected miners like American Bitcoin, in which President Trump's sons hold a significant stake, as potential beneficiaries of indefinite deferral. The bill is one of several crypto tax measures under committee review following a June 9 hearing. With the congressional session in its final months and the Senate's bandwidth consumed by the Clarity Act, the path forward for Carey's bill is narrow even if the industry pressure campaign is broad.
Frequently asked questions
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What does the Tax Clarity for Mining and Staking Act actually do?
The bill, introduced by Rep. Mike Carey (R-Ohio), would let miners and staking reward recipients choose between recognizing new crypto assets as taxable income at receipt or at sale, rather than forcing immediate recognition.
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Who signed the lobbying letter to Congress?
The Blockchain Association, the Digital Chamber, and the Crypto Council for Innovation sent a joint letter on Sunday to the House Ways and Means Committee asking the bill be advanced as written.
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Why is this the industry's second lobbying priority?
The Digital Asset Market Clarity Act, a broader market structure bill establishing a full U.S. crypto regulatory regime, remains the top priority. Tax clarity for mining and staking has emerged as the second major legislative focus after a June 9 committee hearing.
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What are the main criticisms of the bill?
Democrats on the committee have raised concerns about practical use of the deferral. Outside critics like the Revolving Door Project argue miners such as American Bitcoin, tied to the Trump family, could effectively defer taxes indefinitely.
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What are the bill's chances of passing this session?
The bill is at an early stage in the legislative process, and the congressional session is in its final months. The Senate's bandwidth is consumed by the Clarity Act, making the path forward narrow despite broad industry support.
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