the Chamber of Digital Commerce - launched a Tax Task Force in October 2019 and on its website notes it is developing feedback to the IRS. The other major non-profit for cryptocurrency and blockchain in Washington D.C. The Blockchain Association also has started a ‘ Staking Working Group’ that is similarly focused on these issues. that has promoted the Bitcoin and Ethereum ecosystem to Congress for years, where it argues that these ‘block rewards’ should not be taxed as income. In some networks you are earning rewards every six plus seconds.”Ĭongress wrote a letter that was supported by Coin Center, a think tank in D.C. staking these networks need to have a different view than the guidance issued in 2014.
Why should an Ethereum stakeholder care? Now, according to Weiss, “you actually can be compensated for securing the network and earn block rewards for doing that.
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