H.R. 9175 — Tax Clarity for Mining and Staking Act

The bill would add a new Internal Revenue Code subchapter for “newly minted digital assets” received in connection with validating digital asset transactions. In the baseline rule, the fair market value of a newly minted digital asset would be included in gross income as ordinary income when acquired, and that amount would be taken into account in determining the taxpayer’s basis.

• Deferral election: Taxpayers could elect to exclude qualified newly minted digital assets from gross income at acquisition and instead capitalize specified acquisition costs. The proposal would generally recognize gain or loss when the asset is disposed of, with gain treated as arising from property that is not a capital asset.
• Mining and staking scope: The bill defines digital asset validation supporting activities to include staking, mining, or similar activities supporting the validation of digital asset transactions.
• Sourcing rules: Income from acquisition or disposition of assets received through validation would generally be sourced based on U.S. resident or nonresident status at the relevant acquisition or disposition time, with additional branch and partnership rules.
• Trust staking provision: Certain entities or arrangements would not fail to be treated as trusts solely because a trustee stakes digital assets, retains or distributes staking rewards, selects assets for staking, or manages liquidity for redemptions.

Existing IRS materials provide the policy context for the bill. IRS Notice 2014-21 treats virtual currency as property for federal tax purposes and states that mined virtual currency is includible in gross income at receipt. Revenue Ruling 2023-14 states that a cash-method taxpayer who receives proof-of-stake validation rewards includes the fair market value of those rewards in gross income when the taxpayer gains dominion and control.

H.R. 9175 would not simply repeal that framework. Instead, it would codify ordinary-income treatment for newly minted assets while allowing an elective regime that more closely resembles self-created property treatment for qualifying assets. The election and related capitalization rules would depend on Treasury and IRS implementation if the bill becomes law.

The bill is federal legislation for the United States and would amend the Internal Revenue Code. Its practical relevance is concentrated in digital asset taxation, mining, staking, validator operations, and trust structures holding digital assets. It does not create a licensing regime for validators, exchanges, custodians, or staking providers.

The proposed effective dates are tied to enactment. The section addressing newly minted digital assets would apply to assets acquired in taxable years beginning after enactment. The section addressing investment trusts engaged in staking would apply to taxable years ending after enactment. Because the bill is not enacted, no operative effective date is available.

Rep. Mike Carey introduced H.R. 9175 on June 8, 2026, and the bill was referred to the House Committee on Ways and Means the same day. The committee held a June 9, 2026 legislative hearing on digital asset taxation that listed H.R. 9175 alongside other digital asset tax proposals.

As of June 30, 2026, no enacted public law number, House passage, Senate companion passage, or presidential signature was identified in the official sources reviewed. Editors should re-check Congress.gov or GovInfo before publication because the bill’s procedural posture can change quickly while Congress is in session.