US House Committee Reviews Crypto Tax Package; Mining and Staking Provisions Excluded

The US House Ways and Means Committee is set to review a virtual asset tax package, with reports indicating that controversial provisions regarding the taxation timing of mining and staking rewards have been removed from the final draft.

According to Laura Weiss of Punchbowl News, citing a public document released by the committee ahead of its markup session on June 16, the 114-page virtual asset tax package includes the 'FULL HOUSE Act.' However, Republicans have excluded key provisions that would have specified when rewards from mining and staking should be taxed.

Weiss noted that disagreements between Democrats and Republicans over these provisions led to Republican consideration of removing mining and staking content from the package.