Blockchain Association Calls on US Congress to Overhaul Crypto Tax Rules

HIGHLIGHTS Blockchain Association urges Congress to overhaul crypto tax rules as 67M Americans hold digital assets. The group seeks tax exemptions for small crypto transactions and taxation of staking rewards upon disposal. Proposed reforms would protect non-custodial developers, simplify reporting, and support crypto investment in the US. The Blockchain Association has called on the United States Congress to revise cryptocurrency tax provisions to establish more transparent reporting and equitable tax treatment for cryptocurrencies. In the letter, representing over 100 members, the association demanded bipartisan bills for stablecoins, staking, mining, and cryptocurrency transactions.