【The IRS States That Cryptocurrency Staking Should Be Taxed in a Lawsuit】Golden Finance reports that the Internal Revenue Service (IRS) stated in a lawsuit that staking cryptocurrency creates a tax obligation immediately upon completion. The IRS rejected a lawsuit brought by cryptocurrency investor Joshua Jarrett in the U.S. District Court for the Middle District of Tennessee. The lawsuit concerns the tax treatment of staking, which is the process of generating new tokens by using existing tokens and computing power to validate currency transactions. In a response on December 20, the IRS denied that staking creates new property and asserted that the taxpayer (Jarrett) should be taxed on the value of the tokens when he receives the staking rewards.