What happens if a taxpayer Stakes cryptocurrency on a proof-of-stake Blockchain?

Could you please elaborate on the tax implications for an individual who decides to stake cryptocurrency on a proof-of-stake blockchain? Are the rewards earned through staking considered taxable income? How is the value of the cryptocurrency determined for tax purposes? Additionally, are there any specific regulations or guidelines that taxpayers should be aware of when staking cryptocurrency for tax purposes? Clarifying these points would be incredibly helpful for anyone navigating the complex world of cryptocurrency and taxes.