Bitcoin Advocates Oppose New PARITY Act Over Mining Tax

Bitcoin advocates are raising concerns about the newly proposed PARITY Act, a bipartisan tax bill aiming to clarify digital asset taxation in the US. The core issue is the bill's differing treatment of proof-of-work (Bitcoin) and proof-of-stake (Ethereum, Solana) consensus mechanisms. While proof-of-stake participants can defer taxes on earnings until asset sale, Bitcoin miners would not receive this benefit, leading to claims of double taxation. The Bitcoin Policy Institute argues the bill unfairly favors staking operations and creates a two-tiered tax system. Concerns also exist regarding the potential impact on small Bitcoin transactions, which could trigger capital gains reporting. Industry groups like the Digital Chamber are pushing for revisions, including extending tax deferral to mining rewards and broadening de minimis exemptions for everyday transactions.

(Source：BeInCrypto)