Tucked away in the latest 168-page crypto policy blueprint from the White House lies a tax detail that may significantly impact the future of Bitcoin mining and institutional adoption, according to mining firm BitFuFu.
The comprehensive report—published last week by the White House’s Working Group on Digital Asset Markets—proposes wide-ranging regulatory reforms to support what it calls a “golden age of crypto.” Led by Treasury Secretary Scott Bessent and SEC Chair Paul Atkins, the working group encouraged Congress to build on the recent Digital Asset Market Clarity Act and push forward with the GENIUS Act, a newly signed law setting federal rules for stablecoins. Also confirmed was President Trump’s plan to create a strategic Bitcoin reserve, to be managed by the Treasury and funded through seized digital assets. While the reserve’s specifics remain vague, officials stated that more details are forthcoming.
Tax Policy for Miners: Quiet but Critical
Although the report has generated broad optimism within the industry, BitFuFu CEO Leo Lu highlighted a section he believes is being overlooked—taxation on mining and staking income. Speaking to The Block, Lu explained that the current tax structure treats mined Bitcoin as income at the moment of creation, not when it’s later sold. This, he argued, is inconsistent with how other extracted commodities, like gold, are taxed.
The report recommends that the IRS and Treasury revisit this framework, potentially shifting toward taxing Bitcoin at the point of sale rather than creation. For miners, this change could dramatically reduce tax burdens and align crypto with traditional asset classes, especially given Bitcoin’s increasing role as a store of value.
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Lu noted the implications go far beyond miners: “If Bitcoin is treated more like gold in tax law, it will likely accelerate broader acceptance and investor confidence,” he said. The White House has yet to release a detailed roadmap for these potential tax reforms, but the groundwork laid in this report signals a notable shift in tone—and possibly policy—in favor of digital asset innovation.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
Tags: Bitcoin