Law & Policy

There's a lot to absorb in yesterday's crypto report from the White House. As a tax guy, I am pleased to see a lengthy discussion of priorities for tax regulations and legislation. There are some  interesting tidbits in there. For example, it appears that the White House has not ruled out treating staking and mining rewards as self-created property. "Treasury and the IRS should review previously issued guidance related to the timing of income from staking and mining and consider whether to clarify, modify, or reverse that guidance." Also, the Administration seems inclined to treat stablecoins as some sort of debt instrument rather than money, but favors legislation that would facilitate "the widespread use of payment stablecoins as financial assets that function in a similar manner to cash-equivalents." It will be interesting to see how this report influences tax legislation currently pending in Congress.

There's a lot to absorb in yesterday's crypto report from the White House. As a tax guy, I am pleased to see a lengthy discussion of priorities for tax regulations and legislation. There are some  interesting tidbits in there. For example, it appears that the White House has not ruled out treating staking and mining rewards as self-created property. "Treasury and the IRS should review previously issued guidance related to the timing of income from staking and mining and consider whether to clarify, modify, or reverse that guidance." Also, the Administration seems inclined to treat stablecoins as some sort of debt instrument rather than money, but favors legislation that would facilitate "the widespread use of payment stablecoins as financial assets that function in a similar manner to cash-equivalents." It will be interesting to see how this report influences tax legislation currently pending in Congress.

https://www.whitehouse.gov/wp-content/uploads/2025/07/Digital-Assets-Report-EO14178.pdf