Crypto Lobby Warns Congress: Don't Rewrite the Tax Bill

Three of the industry's biggest trade groups sent a joint letter to the House Ways and Means Committee Monday. The Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber urged lawmakers to pass the tax bill as written, warning that revisions could delay clarity for years.

The bill would defer taxation on mining and staking rewards until the assets are sold. Under current rules, the IRS treats those rewards as income the moment they are created, even if the recipient never converts them to dollars. The proposed change would align crypto taxation with how the IRS treats property: you pay tax when you dispose of it, not when you acquire it.

The groups argued that reopening the language would invite procedural fights that kill the bill's chances in this session. Congress has a narrow window before the election calendar crowds out floor time. A clean bill has a path. A marked-up bill, they said, likely dies.

The letter landed as the committee prepares to mark up the legislation. No date has been set for a floor vote.

The coalition's warning reflects a broader frustration. The industry has spent years lobbying for basic tax treatment that matches how other assets are handled. Every failed attempt resets the clock. The groups are effectively telling Congress: take the win or lose it.