Does Mike Carey Support Crypto?

Back in December 2025, Mike Carey once again proved why he has a near-perfect pro-crypto score. He led a group of his colleagues in sending a letter to the Treasury Secretary and the IRS, urging them to establish fair tax treatment for crypto stakers. This isn't just a minor issue; it's a critical point of regulatory uncertainty. The core question is whether staking rewards should be taxed as income at the moment they are created and received, or only when they are eventually sold. Carey's letter advocates for the latter, which is the common-sense, pro-innovation position. Taxing rewards upon creation is akin to taxing a baker for the bread they've just baked but haven't yet sold. It creates a significant tax burden on unrealized assets for those who participate in securing proof-of-stake networks. This effort is a natural follow-up to Carey's historic success in repealing the harmful IRS DeFi Broker Rule earlier the same year. He is consistently targeting specific points of friction caused by regulatory ambiguity and pushing for clear, favorable rules. His stated goal to make "America the crypto capital of the world" is clearly more than just a talking point; it's a mission he is actively pursuing through targeted policy action. This is precisely the kind of leadership the industry needs.

Mike Carey's tweet is another victory lap he's taking for his monumental achievement in getting the first ever crypto bill passed in US history. His bill, H.J. Res 25, successfully repealed a harmful IRS rule that would have classified certain decentralized digital asset entities as brokers. This classification would have imposed unreasonable reporting requirements on these entities, stifling innovation and growth in the DeFi space. His continued emphasis on ensuring crypto thrives in America reinforces his unwavering commitment to fostering a positive regulatory environment for the industry. This win, combined with his other pro-crypto efforts, solidifies his near-perfect stance score and establishes him as a true champion for crypto in Congress.

Mike Carey's recent interview on @610wtvnnews highlights a monumental achievement for the crypto community: the signing of the first-ever cryptocurrency legislation into law. While he discussed other topics like the Buckeyes' championship visit and tax cuts, the mention of this crypto law is particularly significant. As many of you know, I've been closely following Carey's work on this, starting with his introduction of H.J. Res 25 back in January 2025 to repeal the burdensome IRS DeFi Crypto Broker Rule. His tireless efforts, along with the support of other key figures like Senator Ted Cruz, culminated in President Trump signing the bill in April 2025. This law repeals a provision that would have imposed excessive reporting requirements on DeFi participants, hindering innovation and growth in the sector. This victory is a testament to Carey's unwavering commitment to fostering a positive regulatory environment for crypto in the US. His continued advocacy is crucial for ensuring America remains a global leader in this transformative technology. Give the interview a listen to hear more from Carey on this historic win for crypto.

Mike Carey's latest update on his bill (H.J. Res 25) to repeal the IRS DeFi Crypto Broker Rule is fantastic news for the crypto community! The Senate's passage of the bill, with a strong bipartisan vote of 70-28, is a significant victory. This bill, which Carey spearheaded, aims to overturn a rule that would have imposed burdensome reporting requirements on DeFi participants, potentially stifling innovation and growth in this crucial sector. Now, the bill heads to President Biden's desk, and Carey's encouragement for him to sign it into law is a crucial final step. This consistent effort from Carey, building on his previous advocacy against IRS overreach in the crypto space, reinforces his unwavering commitment to making America a global leader in crypto and DeFi. His understanding of the importance of a balanced regulatory approach, one that encourages innovation while addressing legitimate concerns, is commendable. The repeal of this rule would remove a major roadblock for the crypto industry and pave the way for a more vibrant and thriving DeFi ecosystem in the US.

Mike Carey continues his strong advocacy for the crypto community by pushing back against onerous IRS reporting requirements for DeFi. His recent tweet underscores his commitment to fostering a regulatory environment that allows the crypto industry to thrive. He rightly points out that excessive paperwork burdens taxpayers and stifles innovation, echoing concerns shared by many in the crypto space. His leadership in the effort to overturn this misguided rule is commendable and reinforces his high stance score. As a reminder, back in January, Carey expressed his desire for America to become a hub for DeFi innovation. This latest action demonstrates he's actively working to make that vision a reality. His consistent support for sensible crypto regulation is crucial for the growth and adoption of decentralized technologies.

Mike Carey's recent tweet suggesting America become the new home for DeFi innovation is a powerful statement with significant positive implications for the crypto space, earning him a well-deserved high stance score. Let's break down why this is such a bullish signal. First, his explicit mention of "DeFi innovation" signifies an understanding and appreciation for a key area of growth within the crypto ecosystem. DeFi, or decentralized finance, aims to recreate traditional financial instruments in a decentralized architecture, outside the control of companies and governments. This recognition from a US Congressman is a major step towards legitimizing and fostering this burgeoning sector. Second, by connecting DeFi innovation with "rolling back Biden administration IRS overreach," Carey directly addresses a major pain point for crypto users and developers in the US. While the IRS has a role to play in ensuring tax compliance, many in the crypto community feel their approach has been overly aggressive and stifling to innovation. Specifically, the current regulatory landscape around crypto taxation is complex and often unclear, creating a chilling effect on investment and development. Carey's call for a rollback suggests a move towards a more balanced regulatory approach, one that encourages growth rather than hindering it. This resonates deeply with the crypto community's desire for regulatory clarity and a more favorable environment for building and using decentralized technologies. Finally, his assertion that "America can be the new home for DeFi innovation" is a bold statement with global implications. It positions the US as a potential leader in the rapidly evolving world of decentralized finance. This is a direct challenge to other jurisdictions that have taken a more proactive approach to fostering crypto innovation, and signals a potential shift in the US's stance. Attracting DeFi innovation to the US would bring numerous benefits, including job creation, investment, and technological advancement. Overall, Carey's tweet is a strong endorsement of crypto and DeFi, and his high stance score reflects this positive sentiment. His focus on rolling back perceived IRS overreach and promoting the US as a hub for DeFi innovation is exactly the kind of pro-crypto advocacy we need from our elected officials. This is a significant development and one that should be celebrated by the crypto community.