Blockchain Association Urges US Congress to Pass Crypto Tax Legislation

Key Facts

1The Blockchain Association urged congressional leaders to pass bipartisan crypto tax legislation to resolve regulatory uncertainty.

2The tax legislation faces hurdles as the Clarity Act stalls and Congress remains out of session until after the midterms.

The Blockchain Association urged congressional leaders to pass bipartisan crypto tax legislation to resolve ongoing regulatory uncertainty. Reuters reported that the association sent a letter to leaders in both the House and Senate calling for specific tax reforms, particularly regarding mining and staking activities which were reportedly removed from recent House bill versions.

The proposed tax legislation faces significant hurdles as the Clarity Act remains stalled and Congress is out of session until after the midterm elections. This lobbying effort occurs alongside stable US labor data, with initial jobless claims reported at 194,000 on October 22, 2026, coming in below the forecasted 200,000.

The Federal Reserve is scheduled to announce its interest rate decision on October 28, 2026, with market forecasts expecting rates to remain at 4%. Future monetary policy shifts may impact risk appetite in the digital asset market as the industry continues to push for clearer tax reporting frameworks.