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Crypto Regulation

Blockchain Association Urges Congress to Pass Bipartisan Digital Asset Tax Legislation

The Blockchain Association has sent a letter to U.S. House and Senate leadership urging Congress to advance prudent, bipartisan digital asset tax legislation. The group said about 67 million Americans hold and use digital assets, and that the current tax regime creates uncertainty and heavy compliance burdens while pushing innovation offshore. Its proposed principles include a meaningful de minimis exemption and taxing mining and staking rewards as newly created property at disposition.

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AI take

The lobbying push reframes digital-asset taxation as a competitiveness issue rather than an enforcement one, with the offshore-innovation argument doing most of the work. The de minimis exemption and the treatment of mining and staking rewards as newly created property are the substantive asks, and both touch ordinary holders and network operators far more than large institutions. Whether bipartisan tax language actually moves in a divided Congress, and whether these principles survive into any draft, is the open question worth watching.

Generated by AI for reference only.

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