Treasury Signals Crypto Miners Won’t Face IRS Reporting Rule (1)

The U.S. Treasury Department indicated that it plans to spare crypto miners and stakers from rules that would require digital-asset brokers to turn over information on their clients’ transactions to the IRS.

The decision, which was included in a letter sent to a group of senators Friday, is a big initial win for the industry in a battle that’s been brewing since last year when the reporting requirements were enacted as part of the bipartisan infrastructure bill.

In the letter obtained by Bloomberg News, Treasury Assistant Secretary for Legislative Affairs Jonathan Davidson said the department’s view is that ...