The US Internal Revenue Service (IRS) intends to tax rewards for staking cryptocurrencies on POS algorithms. The country's top fiscal authority has issued Revenue Ruling 2023-14, which details the process for taxing individuals who make money from staking digital assets.
In particular, the Tax Service proposes to treat staking rewards as income that requires reporting. It should be included on your annual income report, says the IRS. The rule also applies to investors staking tokens through crypto exchanges.