Overview
- More than 65 organizations led by the Solana Policy Institute sent a letter asking for swift executive-directed guidance from the IRS, SEC, CFTC, Treasury, FinCEN, and DOJ.
- The letter seeks Treasury and IRS rules treating staking and mining rewards as taxable only when sold, plus a de minimis exemption excluding gains on transactions up to $600.
- Signatories ask Treasury to clarify that bridging, wrapping, and cross-chain transfers are non-taxable events and to update rules that make charitable crypto donations costly to document.
- The coalition urges SEC and CFTC safe-harbor frameworks modeled on Hester Peirce’s proposal and explicit protections for users’ right to self-custody during ongoing rulemaking.
- Requests include DOJ dismissal of charges against Tornado Cash developer Roman Storm, FinCEN confirmation that the Bank Secrecy Act does not cover non-custodial software, and withdrawal of its 2023 crypto-mixing risk proposal.