Senator Todd Young, Republican of Indiana, has sent a letter to Secretary of the Treasury Scott Bescent urging the Internal Revenue Service (IRS) to revisit and consider its 2023 guidance on the tax treatment of cryptocurrency staking rewards. As a member of the Senate Finance Committee, Senator Young questioned the reasonableness of the current rule requiring cryptocurrency holders to pay taxes when they "receive" staking rewards, rather than when they "sell" them. A staking is when cryptocurre...
According to POLITICO, members of the US House of Representatives have urged the Securities Exchange Commission (SEC) to approve the Ethereum ETF.