Crypto Lobby Pushes Congress to Pass Staking Tax Bill Unchanged

Leading crypto lobbying groups, including the Blockchain Association and the Crypto Council for Innovation, have called on Congress to pass the Tax Clarity for Mining and Staking Act (H.R. 9175) as originally introduced. In a joint letter to the House Ways and Means Committee, the groups emphasized that the bill would resolve longstanding uncertainties around the taxation of staking and mining rewards, which they argue has stifled innovation and created unnecessary liquidity challenges for participants in the U.S. blockchain ecosystem.

The proposed legislation, introduced on June 8, 2026, by Representative Mike Carey (R-OH), aims to give miners and stakers the flexibility to pay taxes either upon receipt of crypto rewards or when they sell the assets. Currently, rewards are taxed as ordinary income at the time of receipt, a system critics call "phantom income" taxation since it often leaves taxpayers without the liquidity to cover their liabilities.

"After years of uncertainty about how mining and staking rewards are taxed, the bill provides a durable compromise that innovators can support while addressing concerns raised by some lawmakers," the letter stated. The lobbyists warned that amending the bill could reignite disputes and jeopardize bipartisan progress.

However, the bill has drawn criticism from certain corners. Democratic Representative Steven Horsford has proposed an amendment to limit the tax deferral period for crypto rewards to five years, a move the crypto industry says would undermine the bill’s effectiveness. Ji Hun Kim, CEO of the Crypto Council for Innovation, voiced concerns on social media, calling Horsford’s amendment a potential "dealbreaker" that would yield negligible revenue while complicating implementation.

Opposition has also come from the banking sector. The American Bankers Association (ABA) has argued that the bill unfairly advantages crypto over traditional assets like dividends, which are taxed in the year they are received. "The Tax Clarity for Mining and Staking Act would work very differently—and show clear favoritism for cryptocurrencies over other asset classes," the ABA stated.

H.R. 9175 is part of a broader congressional push to overhaul crypto tax rules in 2026. Alongside this bill, lawmakers are debating proposals such as the PARITY Act, which seeks to exempt small crypto transactions from taxation. As regulatory clarity becomes a growing priority for the $2 trillion digital asset market, the outcome of these bills could significantly impact industry dynamics and investor behavior.

For now, H.R. 9175 remains in the House Ways and Means Committee, where it was first discussed in a legislative hearing on June 9, 2026. With lobbying efforts intensifying, the crypto industry is closely watching whether Congress can strike a balance between accommodating innovation and addressing regulatory concerns.