BlockBeats news, on August 5, the U.S. White House Digital Assets Working Group recommended in a 168-page cryptocurrency report that the IRS clarify the tax point for Bitcoin mining earnings or switch to taxing at the time of sale to avoid double taxation of 'mining income tax + capital gains tax on sale.'
BitFuFu CEO Leo Lu stated that this move could significantly reduce the tax burden on miners and accelerate the mainstream adoption of Bitcoin. Similar tax deferral proposals, such as H.R. 8149, have already been introduced in Congress.
