June 22, 2026
Blockchain Association, Crypto Council for Innovation, and The Digital Chamber Urge House Ways and Means Committee to Pass Tax Clarity for Mining and Staking Act As Introduced
WASHINGTON, D.C. (June 22, 2026) – Today, Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber published a letter to House Ways and Means Committee Chairman Jason Smith and Ranking Member Richard Neal applauding the balanced compromise reflected in H.R. 9175, the Tax Clarity for Mining and Staking Act, and urging the Committee to pass the bill as introduced.
Introduced by Rep. Mike Carey, H.R. 9175 would provide long-needed clarity on the federal tax treatment of digital asset mining and staking rewards. For years, miners and stakers have faced uncertainty regarding the timing, sourcing, and character of tokens created through network validation. That uncertainty has been compounded by IRS Notice 2014-21 and Revenue Ruling 2023-14, which treat mining and staking rewards as immediately taxable income and creates serious concerns around issues of dominion and control and liquidity constraints.
Members of Congress have repeatedly flagged the problems this guidance creates. Late last year Senator Todd Young wrote to Treasury Secretary and Acting IRS Commissioner Scott Bessent, urging the IRS to reevaluate the ruling's treatment of staking rewards, and Representative Carey led eighteen of his colleagues in a second letter pressing for updated guidance before the 2026 tax year began.
“H.R. 9175 reflects exactly the kind of practical, pro-innovation tax policy Congress should be advancing,” said Summer Mersinger, CEO of Blockchain Association. “Mining and staking are how these networks are secured. 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. This bill recognizes income while avoiding punitive treatment that would single out digital assets in a way Congress does not impose on comparable assets. It is a balanced compromise, and Congress should preserve it.”
Proof-of-work and proof-of-stake are the primary validation mechanisms used by blockchain networks today, securing over $1.7 trillion in digital assets. These networks rely on participants who choose to validate transactions, create new blocks, and maintain the integrity of decentralized systems. Clear tax rules are essential to ensuring that this activity – and the innovation it supports – can continue to take place in the United States.
"After stablecoin and market structure, tax is the crucial third leg of the stool. Sound tax policy must provide certainty, reflect economic reality, and support responsible innovation. H.R. 9175 creates an election that does all three,” said Ji Hun Kim, CEO of the Crypto Council for Innovation. “The option to treat newly minted tokens as self-created property offers a workable path for taxpayers who cannot monetize rewards at the moment of creation. That balance is the result of genuine negotiation. Capping this election at five years would force miners and stakers to recognize gains on an arbitrary clock regardless of market conditions, the taxpayer's liquidity, or their investment thesis, effectively singling out this asset class for treatment that no comparable asset endures. Amendments that propose such a cap produce negligible revenue while imposing a significant compliance burden. That is not a tradeoff Congress should accept when a durable compromise solution is already on the table. The Committee should move H.R. 9175 forward as introduced. The time is now."
The letter emphasizes that H.R. 9175 takes a novel and balanced approach to the technological and economic realities of proof-of-work and proof-of-stake networks while addressing administrability concerns for taxpayers and the IRS alike. The bill reflects meaningful compromise by ensuring income is ultimately recognized while avoiding immediate taxation before taxpayers can monetize the assets.
“Network validation is core infrastructure for the digital asset ecosystem, and America’s tax rules must be clear so that work is not forced overseas,” said Cody Carbone, CEO of The Digital Chamber. “H.R. 9175 is a carefully crafted solution to a real tax problem that has persisted for too long. The tax code currently fails to account for how miners and stakers create and interact with assets, and this bill provides much-needed clarity, protects U.S. competitiveness, and preserves a bipartisan compromise already established by that Congress.”
The letter also warns against proposals that would impose an arbitrary deferral cap or force miners and stakers to liquidate digital assets on a set timeline regardless of market conditions, liquidity, or the taxpayer’s investment thesis. Such an approach would impose a burden on digital assets that comparable asset classes do not face and would undermine the careful balance reflected in the bill.
“Getting this right keeps blockchain validation and the innovation it supports built here in the United States,” the letter states.
Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber stand ready to work with the Committee, Members, and staff as the Tax Clarity for Mining and Staking Act advances.
Media Contacts:
Blockchain Association: Curtis Kincaid, curtis@theblockchainassociation.org
Crypto Council for Innovation: Amanda Russo, amanda@cryptocouncil.org
The Digital Chamber: Megan Thorpe, Megan@digitalchamber.org
About Blockchain Association
Blockchain Association is the unified voice of the cryptocurrency industry. Our members include the sector’s leading investors, companies, and projects, working together to support a future-forward, pro-innovation national policy and regulatory framework for the crypto economy. Find us at theblockchainassociation.org. Follow us @BlockchainAssn.
About Crypto Council for Innovation
The Crypto Council is the premier global alliance for advancing innovation. It believes in leading with a global view, advocating for inclusive regulation, and developing evidence-based insights to support government and business leaders. It has teams in Washington, D.C., New York, San Francisco, Brussels, London, and Hong Kong.
About The Digital Chamber
The Digital Chamber is a non-profit organization committed to promoting global blockchain adoption. We envision a fair and inclusive digital and financial ecosystem where everyone has the opportunity to participate. Access to digital assets is not merely a technological advancement but a fundamental human right, crucial for economic and social empowerment. Through targeted education, advocacy, and strategic collaborations with government and industry stakeholders, we drive innovation and shape policies that create a favorable environment for the blockchain technology ecosystem.
Major partners and affiliates of The Digital Chamber include: TDC’s State Network, CryptoUK and Digital Power Network.