Senate Passes Trump Bill Without Crypto Tax Breaks The recent decision by the Senate to pass the Trump bill without including crypto tax breaks has sparked mixed reactions among the cryptocurrency community. One of the proposed changes that were left out of the bill was the taxation of staking rewards only upon sale. Additionally, there […]
US IRS Maintains Staking Rewards Are Taxable Income: What It Means for Cryptocurrency Investors
In a definitive ruling, the U.S. Internal Revenue Service (IRS) has reaffirmed its position that staking rewards within cryptocurrency networks are subject to taxation as ordinary income. This development carries significant implications for both individual investors and the broader cryptocurrency landscape as it establishes a crucial precedent in how digital assets are viewed in terms […]