U.S. House Representatives Call on IRS to Resolve Cryptocurrency Staking "Double Taxation" Issue by 2026

Techub News reported, according to Cointelegraph, 18 bipartisan members of the U.S. House of Representatives sent a letter to the Internal Revenue Service (IRS), urging the revision of current cryptocurrency staking tax rules before 2026 to end the double taxation mechanism of "taxation upon receipt and again upon sale." The letter calls for taxing staking rewards at the time of sale, so that "stakers can be taxed based on an accurate representation of their actual economic benefit." The lawmakers stated that the current system is discouraging U.S. user participation in staking, which is detrimental to blockchain network security and the competitiveness of U.S. digital assets.