CRYPTO

Summary from the TLDR Crypto newsletter

Crypto firm Polygon Labs has suggested treating crypto staking similarly to oil and gas taxation in a letter to U.S. senators. It recommends that staking rewards should be taxed only when tokens are sold to prevent over taxation. Its argument draws on the legal tradition of not taxing dominion and control over items without previous ownership. Polygon Labs believes taxing staking rewards upon disposition would be the easiest administrative option.