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The three largest U.S. crypto trade associations sent a joint letter to the House Ways and Means Committee on June 21, calling for passage of H.R. 9175, the Tax Clarity for Mining and Staking Act, introduced by Representative Mike Carey (R-OH).
The Blockchain Association, Crypto Council for Innovation (CCI), and Digital Chamber described the bill as “a durable compromise” and pressed lawmakers to pass it without changes.
The dispute between the IRS and the crypto industry over mining and staking taxes stretches back over a decade.
In 2014, the IRS issued Notice 2014-21, which declared that miners must report the fair market value of any mined Bitcoin as gross income…
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