U.S. lawmakers send a joint letter to the IRS urging changes to the cryptocurrency staking tax law

According to Cointelegraph, 18 bipartisan lawmakers in the U.S. sent a joint letter to the IRS urging the modification of the "double taxation" rules for crypto staking before 2026, suggesting that taxes should only be levied upon sale, rather than being immediately taxed upon receiving rewards.

Lawmaker Mike Carey stated that this move aims to provide fair tax treatment for digital assets and support the U.S. leadership in blockchain innovation.