Tax Clarity for Mining and Staking Act
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Summary
This bill amends the Internal Revenue Code to establish tax rules for income from cryptocurrency mining and staking. It creates a new tax framework allowing taxpayers to either immediately include newly minted digital assets in gross income at fair market value, or elect to defer income recognition and capitalize acquisition costs. The bill also establishes rules for digital asset staking investment trusts and excludes certain foreign entities from these provisions.
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How your representatives voted
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