Bitcoin News: Digital Dollar Blocked to 2030 While Staking Tax Bill Stalls in Congress

In Bitcoin news today, Congress is simultaneously drawing two boundary lines around US digital money: one blocking the Federal Reserve from issuing a government-controlled digital dollar, and another shaping how miners and stakers pay crypto tax on rewards they earn but may not yet be able to spend.

Both moves landed in the same week, and together they sketch the clearest picture yet of where Washington wants the digital asset ecosystem to sit.

The Senate just voted 85-5 to block a U.S. CBDC through 2030.

If the House approves it, the Federal Reserve won't be able to issue a retail #CBDC for years.

A major moment for privacy advocates and the crypto industry.pic.twitter.com/D68BH0MJHP

— The Ladders Research (@TheLaddersClub) June 23, 2026

This news dropped as Bitcoin USD fell below $63,000 overnight, down -2.8%, continuing its rough start to the week, with a decline of more than -6% over the last seven days.

Altcoins are also struggling, with the total crypto market cap down -2.7% in the past 24 hours to $2.22 trillion, and daily trading volume at $77.5Bn.

(SOURCE: CoinGecko)

The Staking Tax Fight: What H.R. 9175 Actually Does

The central dispute is over phantom income; the IRS currently requires miners and stakers to report the market value of rewards as taxable income the moment they are received, even if those rewards sit untouched in a wallet.

H.R. 9175, the Tax Clarity for Mining and Staking Act, would let taxpayers elect when to recognize income: either at receipt, as is the case today, or deferred until the asset is sold or otherwise disposed of.

Three trade groups – the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber – sent a joint letter on June 21 to House Ways and Means Committee leaders Jason Smith and Richard Neal urging the committee to pass the bill unchanged, calling it a compromise “after years of uncertainty.”

Their core argument: forcing recognition at receipt penalizes network participants who earn assets they cannot immediately liquidate, effectively treating staking and mining tax obligations as a sell order the market never asked for. The bill remains stalled in the House Ways and Means Committee, with no markup vote scheduled yet.

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SENATE VOTES TO BAN CBDCs

The US Senate just passed a bill to ban the Federal Reserve from creating a Central Bank Digital Currency (CBDC) until at least December 31, 2030.

A CBDC would be a government-issued digital dollar: fully centralized, issued directly by the Federal… pic.twitter.com/7QVofvv3tD

— CryptoGoos (@cryptogoos) June 23, 2026

Rep. Steven Horsford proposed amending a bill to cap deferral elections at 5 years, triggering income recognition regardless of market conditions or the taxpayer’s liquidity.

Ji Hun Kim, CEO of the Crypto Council for Innovation, criticized the cap as detrimental and likely to yield negligible revenue, echoing concerns from a joint letter about reintroducing compliance burdens. The crypto lobby argues that such a fixed schedule is arbitrary compared to other asset classes.

Opponents, including the American Bankers Association, argue the bill favors crypto over other taxable returns. NYU’s Mike Kaercher highlighted the potential for the deferral to act as a tax subsidy, while Coinbase’s Lawrence Zlatkin countered that current rules create confusion and compliance challenges.

Additionally, the broader House package includes the PARITY Act, which directs the IRS to evaluate reporting requirements for small crypto transactions amidst growing regulatory scrutiny from the crypto industry across various initiatives.

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The CBDC Ban: Four Years of Blocked Digital Dollar Development

The Senate has passed the 21st Century ROAD to Housing Act, which includes a provision that prohibits the Federal Reserve from issuing a retail central bank digital currency (CBDC) until December 31, 2030.

This ban applies to any digital asset classified as US currency and issued directly to the public, but does not apply to stablecoins or private tokens on open networks. While Sen. Ted Cruz sought a permanent ban, his amendment failed, leaving the future after 2030 uncertain.

The White House supports this provision, favoring private-sector stablecoin innovation alongside efforts to reduce tax friction on crypto networks. This regulatory framework is prompting responses from major institutions like Fidelity, as international competitors such as Russia are also shaping their digital asset laws.

The bill still requires House approval, and President Trump has indicated he won’t sign it until voter-ID policies are addressed, potentially delaying its enactment. If approved, the ban gives private stablecoin issuers a runway without government competition until 2030.

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The post appeared first on 99Bitcoins.

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