Republican Rep. Tom Emmer has called for more precise tax guidelines regarding cryptocurrency earnings, after a report he commissioned from the Law Library of Congress showed a stark disparity between regulatory approaches taken by various tax authorities around the world.
The 128-page study examines cryptocurrency tax laws in 31 nations, paying particular interest to their applications concerning coins and tokens earned through mining and staking. As the report notes, many countries have already established specific rules for coins earned through mining, but only five have laid down any guidance for would-be stakers.