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U.S. Republican Lawmakers Push to Repeal IRS Crypto Staking Tax Rules

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A group of U.S. Republican lawmakers is pushing to repeal the IRS’s 2023 rule that taxes crypto staking rewards as income at the time of receipt. They argue staking rewards should only face capital gains tax when sold, not at receipt, to ease financial pressure and encourage innovation. The rule requires investors to report the fair market value of staking rewards as income, regardless of whether they are sold. Critics say this creates liquidity and compliance issues. The proposed change aims to take effect before the 2026 tax year. The outcome could affect the U.S. crypto industry and its global standing in Countering the Financing of Terrorism regulations.
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