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US House Ways and Means Committee to Review Crypto Tax Package, Excluding Mining and Staking Tax Provision
Summary
- The US House Ways and Means Committee is set to review a cryptocurrency tax package.
- The package includes the 114-page FULL HOUSE Act.
- Republicans excluded a key provision on the timing of taxation for mining and staking rewards from the final version.
Forecast Trend Report by Period
The US House Ways and Means Committee is set to review a cryptocurrency tax package, though a disputed provision on when mining and staking rewards would be taxed was omitted from the final version.
Laura Weiss of Punchbowl News reported on September 14 that materials released for the committee's September 16 markup include a 114-page cryptocurrency tax package.
The package includes the full text of the FULL HOUSE Act. Republicans, however, excluded a key provision that would have set the timing for taxing crypto rewards received through mining and staking.
Weiss wrote that Republicans had been weighing removing the mining and staking language from the package as disagreements with Democrats over the provision continued.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.