IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens

A cryptocurrency investor rewarded assets for validation activity on a proof-of-stake network should count the rewards as income in the year the investor gets control of those tokens, according to a ruling issued Monday by the Internal Revenue Service (IRS).

• 2023-08-01
• Internal Revenue Service fair market value

U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

Congressmen Brad Sherman and Stephen Lynch called the crypto industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations.

• 2023-06-07
• Internal Revenue Service U.S. Treasury Department Brad Sherman Stephen Lynch House Committee on Financial Services reporting requirement

Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

• 2023-03-22
• Internal Revenue Service U.S. Department of the Treasury NFTs digital assets collectible Internal Revenue Code collectibles

Go ahead and ban staking. Crypto investors will just go elsewhere

The SEC's latest heavy-handed approach toward crypto will leave investors less protected while benefitting dodgy offshore companies, writes Danny Talwar of Koinly.

• 2023-02-16
• Internal Revenue Service crypto assets Commodity Futures Trading Commission