IF IT MOVES, TAX IT. IF IT KEEPS MOVING, TAX IT SOME MORE. IF IT STOPS MOVING, COLLECT A DEATH TAX: Biden Deals Blow to Crypto Industry, Backs Plan to Tax Proof-of-Stake. “In a surprise move, the Biden Administration threw its support behind an amendment to a major bill in the U.S. Senate that would subject a broad segment of the crypto industry to onerous or even impossible tax reporting obligations.”