In the US, one of the toughest countries in the world in terms of tax collection, the finance ministry (IRS) announced that staking rewards should also be declared as gross income.

In a statement from the IRS, it was stated that if a cryptocurrency investor earns rewards from the PoS blockchain system, they must also declare this income. It was noted that the fair value of staking rewards will be calculated based on the price at the time the investor is entitled to these rewards.

Recently, regulatory bodies such as the IRS and SEC have been focusing closely on the staking services of exchanges. In fact, the SEC reached an agreement with the Kraken exchange and as a result, the exchange announced that it terminated its staking services. The Kraken exchange made a similar agreement with the IRS as it did with the SEC. According to the agreement, Kraken agreed to provide account and transaction information to the organization.

The Coinbase exchange, on the other hand, does not accept the SEC’s claim that staking services are the sale of an investment contract. Staking is one of the main points of the SEC’s unregistered investment contract lawsuit against Coinbase.