IRS Unveils New Guidance for Cryptocurrency Exchange-Traded Products, Facilitating Staking

The U.S. Internal Revenue Service (IRS) has released updated guidance for cryptocurrency exchange-traded products (ETPs), including a new safe harbor for trusts to engage in staking digital assets. Treasury Secretary Scott Bessent announced the updated guidance on Monday through his X post, outlining a framework for crypto ETPs to stake digital assets and distribute rewards to retail investors.