PANews reported on November 11th that, according to The Block, the IRS has released new guidance establishing a safe harbor for staking digital assets in exchange-traded products (ETPs). Cryptocurrency proponents say this changes the way traditional finance is taxed. On Monday, U.S. Treasury Secretary Scott Bessent announced the news on the X platform, stating that the guidance provides a clear path for staking digital assets in ETPs, sharing rewards with retail investors, increasing investor returns, driving innovation, and helping the U.S. maintain its leading position in the digital asset and blockchain fields. The IRS stated that they received questions regarding whether staking would render a trust "unfair to federal income tax regulations," and the newly released 18-page guidance includes safe harbor provisions and requirements. Bill Hughes, senior legal counsel at Consensys, stated that trusts meeting certain conditions (such as holding only one digital asset and cash, using qualified custodians, etc.) can stake cryptocurrency on permissionless proof-of-stake networks. This safe harbor provides clear guidance for institutions and accelerates the adoption of proof-of-stake blockchains in the mainstream market.PANews reported on November 11th that, according to The Block, the IRS has released new guidance establishing a safe harbor for staking digital assets in exchange-traded products (ETPs). Cryptocurrency proponents say this changes the way traditional finance is taxed. On Monday, U.S. Treasury Secretary Scott Bessent announced the news on the X platform, stating that the guidance provides a clear path for staking digital assets in ETPs, sharing rewards with retail investors, increasing investor returns, driving innovation, and helping the U.S. maintain its leading position in the digital asset and blockchain fields. The IRS stated that they received questions regarding whether staking would render a trust "unfair to federal income tax regulations," and the newly released 18-page guidance includes safe harbor provisions and requirements. Bill Hughes, senior legal counsel at Consensys, stated that trusts meeting certain conditions (such as holding only one digital asset and cash, using qualified custodians, etc.) can stake cryptocurrency on permissionless proof-of-stake networks. This safe harbor provides clear guidance for institutions and accelerates the adoption of proof-of-stake blockchains in the mainstream market.