Blockchain Association Urges Congress to Pass Bipartisan Crypto Tax Legislation, Proposing Key Reforms Amid Clarity Act Stalls
The Blockchain Association sent a letter to Senate and House leadership on Thursday, urging the passage of bipartisan digital asset tax legislation. The group proposed several key reforms, including a de minimis exemption for small transactions, taxing mining and staking rewards at the point of sale instead of receipt, and limiting broker reporting to firms holding customer assets. This push comes as the Clarity Act failed in the Senate last month, and the House's Digital Asset Tax Certainty Act (H.R. 10357) stripped provisions for mining and staking relief. Congress is currently in recess until after the November 3 midterms, adding to the legislative challenges.
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