The US tax regulator, the Internal Revenue Service (IRS), has restated its stance on cryptocurrency staking, clarifying that rewards generated from staking activities are taxable as soon as they are received. The IRS added that staking rewards do not constitute new property, and are therefore subject to immediate taxation upon generation. IRS Confirms Crypto Staking Taxable On Receipt According to a recent Bloomberg report, the IRS reiterated its position that digital asset staking rewards should be taxed as income as soon as they are generated and made available to the…
