破産したデジタル資産プラットフォームに関連づけられ、凍結された報酬の税務上の取扱い（米国暗号資産税・IRSメモランダム）

IRS（米国の国税庁）から、ステーキング報酬などを獲得している納税者について、利用しているデジタル資産プラットフォームが破産し、そこに関連づけられている報酬が凍結された場合の税務上の取扱いを示した覚書（IRS Chief Counsel Advice memorandum）が公表されました。

現金主義を採用している個人納税者が得たステーキング報酬（バリデータ報酬）ついては、その報酬に対する管理支配権を得た課税年度の総所得に含める、実際にその報酬を納税者が占有していない場合でも、納税者のためにクレジットされ、確保され、いつでも引き出せるときは、その課税年度に受領されたものとみなされるなどという理解を前提として回答がなされています。

Rev. Rul. 2023-14 provides that if a cash-method taxpayer stakes cryptocurrency native to a proof-of-stake blockchain and receives additional units of cryptocurrency as rewards when validation occurs, the fair market value of the validation rewards received is included in the taxpayer’s gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards.

Income, although not actually reduced to a taxpayer’s possession, is constructively received by the taxpayer in the taxable year during which it is credited to the taxpayer’s account, set apart for the taxpayer, or otherwise made available so that the taxpayer may draw upon it at any time, or so that the taxpayer could have drawn upon it during the taxable year if notice of intention to withdraw had been given. Treas. Reg. § 1.451-2(a).

質問

納税者Aは、第1年度中にデジタル資産プラットフォームXのアカウントでステーキング及びその他の活動を行い、その報酬を受け取りました。プラットフォームXは、報酬が納税者Aのアカウントの残高にクレジットされた後、第1年度末までにそのアカウントを凍結し、連邦破産法第11章に基づく破産申請を行いました。この場合、第1年度の12月31日時点でアカウントが凍結されたままである場合でも、納税者Aは上記報酬額を第1年度の総所得に含める必要があるのでしょうか？

覚書の結論

はい。納税者Aは、アカウントが凍結される前の第1年度中に報酬を受け取っており、第1年度の12月31日時点でアカウントが凍結された状態であったとしても、内国歳入法61条と451条に基づき、受領時点における報酬の公正市場価値を第1年度の総所得に含める必要があります。

原文

Office of Chief Counsel　Internal Revenue Service　memorandum
Number: 202444009
Release Date: 11/1/2024
CC:ITA:B02:MELawrence
PRENO-103305-24
UILC: 61.00-00; 451.00-00

date: October 10, 2024
to: Michael R. Fiore
Area Counsel, 1 (Boston)
(Small Business/Self-Employed)

from: Ronald J. Goldstein
Senior Technician Reviewer, Branch 2
(Income Tax & Accounting)

subject: Frozen Rewards Related to Bankrupt Digital Asset Platforms

This memorandum responds to your request for advice regarding the proper year
of inclusion of frozen digital asset rewards in gross income.

Issue

Taxpayer A received rewards from staking and other activities during Year 1 in　an account at Digital Asset Platform X (Platform X). Platform X froze the account and　filed a Chapter 11 bankruptcy petition after the rewards were credited to Taxpayer A’s　account but before the end of Year 1. Is Taxpayer A required to include the value of the　rewards in gross income in Year 1 if the account remains frozen as of December 31st of　Year 1?

Conclusion

Yes. Taxpayer A received the rewards in Year 1 prior to the account being frozen and must include the fair market value of the rewards, at the date and time of receipt, in gross income in Year 1 under Internal Revenue Code (Code) §§ 61 and 451 even though the account remains frozen as of December 31st of Year 1.

Facts

Taxpayer A is an individual cash method taxpayer who in Year 1 held digital assets, including cryptocurrency, in an account at Platform X for investment purposes.
Pursuant to the user agreement between Platform X and Taxpayer A (“User Agreement”), rewards, including those from staking, were periodically distributed to Taxpayer A following any applicable lockup or waiting period. At the time the rewards were credited to the account, Taxpayer A was able to sell, exchange, or transfer the rewards. In addition, the User Agreement provided that the credited rewards were property of Taxpayer A. Taxpayer A’s account included cryptocurrency received and credited to Taxpayer A’s account in Year 1 as rewards from staking and other activities. During Year 1, Platform X froze its customers’ accounts and filed a Chapter 11 bankruptcy petition.1 As a result of the account being frozen, Taxpayer A was unable to sell, exchange, or transfer any of the digital assets contained in the account, including credited rewards, from the date the account was frozen through December 31st of Year 1.

Law and Analysis

Digital assets are defined under § 6045(g)(3)(D) of the Code as digital representations of value that are recorded on a cryptographically secured distributed ledger.2 See also Treas. Reg. § 1.6045-1(a)(19)(i). Digital assets do not exist in physical form and include, but are not limited to, property the Internal Revenue Service has previously referred to as convertible virtual currency and cryptocurrency. Notice 2014-21, 2014-16 I.R.B. 938, as modified by Notice 2023-34, 2023-19 I.R.B. 837; Rev. Rul. 2019-24, 2019-44 I.R.B. 1004. Notice 2014-21 provides that convertible virtual currency is treated as property and that general tax principles applicable to property transactions apply to convertible virtual currency.

Cryptocurrency is a type of virtual currency that utilizes cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain. Units of cryptocurrency are generally referred to as coins or tokens. Distributed ledger technology uses independent digital systems to record, share, and synchronize transactions, the details of which are recorded in multiple places at the same time with no central data store or administration functionality. See Rev. Rul. 2019-24.

A consensus mechanism is a set of protocols by which nodes reach agreement on updates to the blockchain. In a proof-of-stake consensus mechanism, persons who hold cryptocurrency may participate in the validation process by staking their holdings themselves or may stake their holdings indirectly through a digital asset platform, referred to as a cryptocurrency exchange. See Rev. Rul. 2023-14, 2023-33 I.R.B. 484.
In general, digital asset platform user agreements specify the timing for when staking rewards will be credited to a customer’s account and made available to the customer to sell, exchange, or transfer.

Section 61(a) provides the general rule that, except as otherwise provided by subtitle A of the Code, gross income means all income from whatever source derived.
Specifically, gross income includes, but is not limited to, compensation for services, income derived from business, and gains from dealings in property. Under § 61, “instances of undeniable accessions to wealth, clearly realized, and over which the taxpayers have complete dominion,” require inclusion in gross income.
See Commissioner v. Glenshaw Glass Co., 348 U.S. 426, 431 (1955). “Gross income includes income realized in any form, whether in money, property, or services.” Treas. Reg. § 1.61-1(a). In general, the receipt of property constitutes gross income in the amount of its fair market value at the date and time at which it is reduced to undisputed possession. See, e.g., § 61(a); Koons v. United States, 315 F.2d 542 (9th Cir. 1963);
Rooney v. Commissioner, 88 T.C. 523, 526-527 (1987); Treas. Reg. § 1.61-2(d)(1).

Section 451(a) provides that the amount of any item of gross income shall be included in gross income for the taxable year in which it is received by the taxpayer, unless, under the taxpayer’s method of accounting used in computing taxable income, such amount is to be properly accounted for as of a different period. Individual taxpayers generally use the cash method of accounting, pursuant to which gains, profits, and other income are included in gross income in the taxable year in which they are actually or constructively received.3 Treas. Reg. § 1.451-1(a).

Rev. Rul. 2023-14 provides that if a cash-method taxpayer stakes cryptocurrency native to a proof-of-stake blockchain and receives additional units of cryptocurrency as rewards when validation occurs, the fair market value of the validation rewards received is included in the taxpayer’s gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards.
The fair market value is determined as of the date and time the taxpayer gains dominion and control over the validation rewards. The same is true if a taxpayer stakes cryptocurrency native to a proof-of-stake blockchain through a cryptocurrency exchange and the taxpayer receives additional units of cryptocurrency as rewards as a result of the validation.

In Year 1, prior to Platform X freezing customers’ accounts and filing its bankruptcy petition, Taxpayer A was in actual receipt of cryptocurrency representing staking and other rewards when the cryptocurrency was credited to the account.
Pursuant to the User Agreement, Taxpayer could sell, exchange, or transfer the rewards when credited, thereby establishing dominion and control over the rewards and resulting in gross income to Taxpayer A. See § 61; Rev. Rul. 2023-14.
The proper year for inclusion of the reward income is Year 1, when the rewards were received by Taxpayer A, notwithstanding subsequent events such as the account being frozen.
Treas. Reg. § 1.451-1(a). Accordingly, Taxpayer A must include the fair market value of the rewards received prior to the account being frozen in gross income in Year 1 even though A’s account was frozen as of the last day of the year of receipt.4 The fair market value of the rewards is determined at the date and time the rewards were credited to Taxpayer A’s account. See § 61; Rev. Rul. 2023-14; and Treas. Reg. § 1.451-1(a) .

If you have any questions, please contact Morgan Lawrence at (202) 317-7011.

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Sincerely,/s/ Ronald J. Goldstein

Ronald J. Goldstein
Senior Technician Reviewer, Branch 2
(Income Tax & Accounting)