Republican lawmakers urge repeal of crypto staking tax rules

A group of Republican members of the U.S. House of Representatives is urging the administration to repeal tax regulations on cryptocurrency staking, according to Decrypt. The lawmakers emphasized that the rules must be withdrawn before they take effect for the 2026 tax year. In 2023, the Internal Revenue Service (IRS) introduced a rule classifying rewards from crypto staking as taxable income upon receipt. For years, the crypto industry has argued that staking rewards should be treated as newly created assets and taxed only when they are sold.