IRS confirms crypto staking and mining rewards are taxable upon receipt

In the United States, income generated from crypto rewards—including staking and mining—is generally subject to taxation when individuals receive the assets and gain control over them. According to the Internal Revenue Service (IRS), the timing of tax liability depends on when a taxpayer has both dominion and control over the crypto reward, with guidance specifying the need for accurate recordkeeping and proper reporting. The IRS classifies digital assets as property rather than currency.

Source: CoinTurk News