Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

2025-05-19

Crypto companies to report every transaction under new British laws

2025-05-19

Stellar [XLM] Price forecast – Research why $ 0.27 is an important level for Altcoin

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    2025-05-19

    Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

    2025-05-19

    Vitaminai and Blocx partner to stimulate security and productivity by bridging Web2 and Web3

    2025-05-19

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Crypto companies to report every transaction under new British laws

    2025-05-19

    Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

    2025-05-19

    Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

    2025-05-19

    SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

    2025-05-19

    Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

    2025-05-19
  • Analysis

    BlackRock’s Buidl to Power Bouncebit’s new RWA Yield Strategy Platform

    2025-05-19

    XRP -Price confirms Bullish reversing settings with this demand zone

    2025-05-19

    Finish Bitcoin price inches in the direction of all time-can Momentum?

    2025-05-19

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»IRS Says Staking Rewards Can Now Be Taxed As Income Once Tokens Are Received
IRS Says Staking Rewards Can Now Be Taxed As Income Once Tokens Are Received
Regulation

IRS Says Staking Rewards Can Now Be Taxed As Income Once Tokens Are Received

2023-08-02No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Internal Revenue Service (IRS) says that US crypto traders staking rewards will now have to treat those earnings as part of their taxable income that year.

Staking involves investors locking up their crypto assets into the blockchain in order to validate transactions and obtain rewards.

Explains the IRS,

“If a cash-method taxpayer stakes cryptocurrency native to a proof-of-stake blockchain and receives additional units of cryptocurrency as rewards when validation occurs, the fair market value of the validation rewards received are included in the taxpayer’s gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards. The fair market value is determined as of the date and time the taxpayer gains dominion and control over the validation rewards.”

The IRS also notes that if a taxpayer stakes crypto through an exchange, they also have to include those rewards in their gross income for the taxable year.

Jesse Powell, the co-founder of the crypto exchange Kraken, says on Twitter that the ruling is “disappointing.”

“Disappointing ruling that fails to account for the inflation component, and the consequences of not staking. ‘Rewards’ are a split you work to claim.

* If nobody stakes, the chain is dead and value of all coins goes to 0
* if you don’t stake, your % ownership and % vote go down” 

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney



Source link

See also  Gamestop CEO forbids Bitcoin rumor: $ 4.6 billion buy income?
income IRS received Rewards staking Taxed Tokens
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto companies to report every transaction under new British laws

2025-05-19

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

2025-05-19

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

2025-05-19
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Google loosens restrictions on crypto ads and allows promotion of ‘Cryptocurrency Coin Trusts’

2023-12-11

NFT collections drive market recovery with 3.74% increase in weekly sales

2024-02-04

$147 Million Crypto Shorts Under Pressure – Will Bitcoin Go Past $64K?

2024-09-20
Editors Picks

Bitcoin $500,000 Prediction: Analysts Chart BTC’s Bull Run Timeline

2024-06-04

Bitcoin price targets $46,000 as DXY receives the kiss of death

2023-11-07

AdEx introduces updated Web3 advertising platform, uses AI and ZK technology

2024-06-29

BNB price poised for rally and only 1 thing is holding it back

2023-07-03

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Crypto companies to report every transaction under new British laws

Stellar [XLM] Price forecast – Research why $ 0.27 is an important level for Altcoin

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,727.132.24%
  • ethereumEthereum(ETH)$2,554.416.93%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.381.30%
  • binancecoinBNB(BNB)$650.011.87%
  • solanaSolana(SOL)$169.262.35%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2252532.47%
  • cardanoCardano(ADA)$0.742.10%
  • tronTRON(TRX)$0.2679572.72%
  • suiSui(SUI)$3.862.35%
  • chainlinkChainlink(LINK)$16.055.92%
  • avalanche-2Avalanche(AVAX)$22.362.31%
  • stellarStellar(XLM)$0.2855981.74%
  • hyperliquidHyperliquid(HYPE)$26.412.09%
  • shiba-inuShiba Inu(SHIB)$0.0000152.06%
  • hedera-hashgraphHedera(HBAR)$0.1955903.35%
  • unus-sed-leoUNUS SED LEO(LEO)$8.700.61%
  • bitcoin-cashBitcoin Cash(BCH)$394.280.75%
  • the-open-networkToncoin(TON)$3.040.34%
  • litecoinLitecoin(LTC)$97.440.76%
  • polkadotPolkadot(DOT)$4.632.28%
  • moneroMonero(XMR)$347.521.18%
  • bitget-tokenBitget Token(BGB)$5.171.17%
  • pepePepe(PEPE)$0.0000132.55%
  • daiDai(DAI)$1.000.00%
  • piPi(PI)$0.740.92%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$266.5722.90%
  • uniswapUniswap(UNI)$5.973.95%
  • bittensorBittensor(TAO)$413.772.74%
  • nearNEAR Protocol(NEAR)$2.824.31%
  • aptosAptos(APT)$5.216.03%
  • okbOKB(OKB)$52.26-0.20%
  • ondo-financeOndo(ONDO)$0.943.92%
  • kaspaKaspa(KAS)$0.1087220.79%
  • ethereum-classicEthereum Classic(ETC)$18.615.25%
  • internet-computerInternet Computer(ICP)$5.274.09%
  • gatechain-tokenGateToken(GT)$21.600.82%
  • crypto-com-chainCronos(CRO)$0.0970131.23%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.830.75%
  • mantleMantle(MNT)$0.730.32%
  • vechainVeChain(VET)$0.0283833.32%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2337201.26%
  • render-tokenRender(RENDER)$4.674.93%
  • ethenaEthena(ENA)$0.3807457.19%
  • usd1World Liberty Financial USD(USD1)$1.00-0.05%
  • algorandAlgorand(ALGO)$0.2239323.74%
  • arbitrumArbitrum(ARB)$0.3937805.68%
  • filecoinFilecoin(FIL)$2.873.61%
  • bitcoinBitcoin(BTC)$105,727.132.24%
  • ethereumEthereum(ETH)$2,554.416.93%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.381.30%
  • binancecoinBNB(BNB)$650.011.87%
  • solanaSolana(SOL)$169.262.35%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2252532.47%
  • cardanoCardano(ADA)$0.742.10%
  • tronTRON(TRX)$0.2679572.72%
  • suiSui(SUI)$3.862.35%
  • chainlinkChainlink(LINK)$16.055.92%
  • avalanche-2Avalanche(AVAX)$22.362.31%
  • stellarStellar(XLM)$0.2855981.74%
  • hyperliquidHyperliquid(HYPE)$26.412.09%
  • shiba-inuShiba Inu(SHIB)$0.0000152.06%
  • hedera-hashgraphHedera(HBAR)$0.1955903.35%
  • unus-sed-leoUNUS SED LEO(LEO)$8.700.61%
  • bitcoin-cashBitcoin Cash(BCH)$394.280.75%
  • the-open-networkToncoin(TON)$3.040.34%
  • litecoinLitecoin(LTC)$97.440.76%
  • polkadotPolkadot(DOT)$4.632.28%
  • moneroMonero(XMR)$347.521.18%
  • bitget-tokenBitget Token(BGB)$5.171.17%
  • pepePepe(PEPE)$0.0000132.55%
  • daiDai(DAI)$1.000.00%
  • piPi(PI)$0.740.92%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$266.5722.90%
  • uniswapUniswap(UNI)$5.973.95%
  • bittensorBittensor(TAO)$413.772.74%
  • nearNEAR Protocol(NEAR)$2.824.31%
  • aptosAptos(APT)$5.216.03%
  • okbOKB(OKB)$52.26-0.20%
  • ondo-financeOndo(ONDO)$0.943.92%
  • kaspaKaspa(KAS)$0.1087220.79%
  • ethereum-classicEthereum Classic(ETC)$18.615.25%
  • internet-computerInternet Computer(ICP)$5.274.09%
  • gatechain-tokenGateToken(GT)$21.600.82%
  • crypto-com-chainCronos(CRO)$0.0970131.23%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.830.75%
  • mantleMantle(MNT)$0.730.32%
  • vechainVeChain(VET)$0.0283833.32%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2337201.26%
  • render-tokenRender(RENDER)$4.674.93%
  • ethenaEthena(ENA)$0.3807457.19%
  • usd1World Liberty Financial USD(USD1)$1.00-0.05%
  • algorandAlgorand(ALGO)$0.2239323.74%
  • arbitrumArbitrum(ARB)$0.3937805.68%
  • filecoinFilecoin(FIL)$2.873.61%