PANews, June 22: According to a public letter released by The Blockchain Association, multiple cryptocurrency and blockchain-related organizations have written to U.S. House Ways and Means Committee Chairman Jason Smith and Senior Representative Richard Neal, supporting the passage of H.R. 9175, the "Tax Clarity for Mining and Staking Act," introduced by Representative Mike Carey, in its original form.
U.S. industry groups support H.R. 9175 to clarify tax rules for mining and staking.
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Summary
U.S. blockchain groups support H.R. 9175 to clarify tax rules for mining and staking, citing volatility in the Fear & Greed Index as a key concern. The bill, led by Representative Mike Carey, seeks to stabilize altcoins to watch by providing regulatory clarity. Industry groups urged House Ways and Means leaders to pass the bill as drafted.
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