Leading U.S. crypto advocacy groups jointly urged the House Ways and Means Committee to advance the Tax Clarity for Mining and Staking Act (H.R. 123) without changes. The bill, introduced by Rep. Mike Carey (R-Ohio), would allow miners and stakers to defer taxation on newly created assets until they are sold, rather than treating them as immediate income. In a letter dated June 9, the Blockchain Association, Digital Chamber, and Crypto Council for Innovation argued that current tax rules force holders to sell assets prematurely to pay taxes. Democrats expressed concerns about indefinite deferral and potential abuse, while critics like the Revolving Door Project pointed out that large firms, including American Bitcoin (linked to Trump family), could benefit disproportionately. The bill is one of several crypto tax proposals under consideration, but its viability is uncertain given the late stage of the congressional session. Meanwhile, the Senate is focused on the Digital Asset Market Clarity Act, with negotiations ongoing.

Key facts

• Bill would let miners/stakers defer taxes on new assets until sale.
• Top crypto groups urge House committee to advance bill unchanged.
• Democrats and critics warn of indefinite deferral and potential abuse.
• Senate focused on broader market structure bill amid late session.
• Bill faces uncertain path due to limited remaining congressional time.

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