White House report suggests avoiding double taxation, Bitcoin miners may only be taxed at the time of sale

According to The Block, the White House Digital Assets Working Group recommends in a 168 page report that the IRS clarify the tax timing for Bitcoin mining profits or change it to being taxed on sales to avoid the risk of; Mining income tax+capital gains from selling; Double taxation. BitFuFu CEO Leo Lu stated that this move can significantly reduce the tax burden on miners and accelerate the popularization of Bitcoin. Similar tax deferral plans have been proposed in bills such as H.R. 8149 in Congress.