diff --git a/CHANGELOG.md b/CHANGELOG.md
index afd9133aa7c1..f8226fb79b41 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -58,6 +58,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * (baseapp) [#12089](https://github.com/cosmos/cosmos-sdk/pull/12089) Include antehandler and runMsgs events in SimulateTx.
 * (cli) [#12095](https://github.com/cosmos/cosmos-sdk/pull/12095) Fix running a tx with --dry-run returns an error
 * (x/auth) [#12108](https://github.com/cosmos/cosmos-sdk/pull/12108) Fix GetBlockWithTxs error when querying block with 0 tx
+* (genutil) [#12140](https://github.com/cosmos/cosmos-sdk/pull/12140) Fix staking's genesis JSON migrate in the `simd migrate v0.46` CLI command.
 
 ## [v0.46.0-rc1](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.46.0-rc1) - 2022-05-23
 
diff --git a/x/genutil/migrations/v046/migrate.go b/x/genutil/migrations/v046/migrate.go
index 10a04fd5bd55..b3fead6961dd 100644
--- a/x/genutil/migrations/v046/migrate.go
+++ b/x/genutil/migrations/v046/migrate.go
@@ -5,7 +5,10 @@ import (
 	"github.com/cosmos/cosmos-sdk/x/genutil/types"
 	v043gov "github.com/cosmos/cosmos-sdk/x/gov/migrations/v043"
 	v046gov "github.com/cosmos/cosmos-sdk/x/gov/migrations/v046"
-	gov "github.com/cosmos/cosmos-sdk/x/gov/types/v1beta1"
+	govv1beta1 "github.com/cosmos/cosmos-sdk/x/gov/types/v1beta1"
+	v043staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v043"
+	v046staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	stakingtypes "github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
 // Migrate migrates exported state from v0.43 to a v0.46 genesis state.
@@ -13,19 +16,37 @@ func Migrate(appState types.AppMap, clientCtx client.Context) types.AppMap {
 	// Migrate x/gov.
 	if appState[v043gov.ModuleName] != nil {
 		// unmarshal relative source genesis application state
-		var oldGovState gov.GenesisState
-		clientCtx.Codec.MustUnmarshalJSON(appState[v043gov.ModuleName], &oldGovState)
+		var old govv1beta1.GenesisState
+		clientCtx.Codec.MustUnmarshalJSON(appState[v043gov.ModuleName], &old)
 
 		// delete deprecated x/gov genesis state
 		delete(appState, v043gov.ModuleName)
 
 		// Migrate relative source genesis application state and marshal it into
 		// the respective key.
-		newGovState, err := v046gov.MigrateJSON(&oldGovState)
+		new, err := v046gov.MigrateJSON(&old)
 		if err != nil {
 			panic(err)
 		}
-		appState[v046gov.ModuleName] = clientCtx.Codec.MustMarshalJSON(newGovState)
+		appState[v046gov.ModuleName] = clientCtx.Codec.MustMarshalJSON(new)
+	}
+
+	// Migrate x/staking.
+	if appState[v043staking.ModuleName] != nil {
+		// unmarshal relative source genesis application state
+		var old stakingtypes.GenesisState
+		clientCtx.Codec.MustUnmarshalJSON(appState[v043staking.ModuleName], &old)
+
+		// delete deprecated x/staking genesis state
+		delete(appState, v043staking.ModuleName)
+
+		// Migrate relative source genesis application state and marshal it into
+		// the respective key.
+		new, err := v046staking.MigrateJSON(old)
+		if err != nil {
+			panic(err)
+		}
+		appState[v046staking.ModuleName] = clientCtx.Codec.MustMarshalJSON(&new)
 	}
 
 	return appState
diff --git a/x/staking/migrations/v043/keys.go b/x/staking/migrations/v043/keys.go
new file mode 100644
index 000000000000..bca943d8aec8
--- /dev/null
+++ b/x/staking/migrations/v043/keys.go
@@ -0,0 +1,6 @@
+package v043
+
+const (
+	// ModuleName is the name of the module
+	ModuleName = "staking"
+)
diff --git a/x/staking/migrations/v046/json.go b/x/staking/migrations/v046/json.go
new file mode 100644
index 000000000000..e3be292a2c74
--- /dev/null
+++ b/x/staking/migrations/v046/json.go
@@ -0,0 +1,13 @@
+package v046
+
+import "github.com/cosmos/cosmos-sdk/x/staking/types"
+
+// MigrateJSON accepts exported v0.43 x/stakinng genesis state and migrates it to
+// v0.46 x/staking genesis state. The migration includes:
+//
+// - Add MinCommissionRate param.
+func MigrateJSON(oldState types.GenesisState) (types.GenesisState, error) {
+	oldState.Params.MinCommissionRate = types.DefaultMinCommissionRate
+
+	return oldState, nil
+}
diff --git a/x/staking/migrations/v046/json_test.go b/x/staking/migrations/v046/json_test.go
new file mode 100644
index 000000000000..df1d8db94329
--- /dev/null
+++ b/x/staking/migrations/v046/json_test.go
@@ -0,0 +1,57 @@
+package v046_test
+
+import (
+	"encoding/json"
+	"testing"
+
+	"github.com/stretchr/testify/require"
+
+	"github.com/cosmos/cosmos-sdk/client"
+	"github.com/cosmos/cosmos-sdk/simapp"
+	v046 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	"github.com/cosmos/cosmos-sdk/x/staking/types"
+)
+
+func TestMigrateJSON(t *testing.T) {
+	encodingConfig := simapp.MakeTestEncodingConfig()
+	clientCtx := client.Context{}.
+		WithInterfaceRegistry(encodingConfig.InterfaceRegistry).
+		WithTxConfig(encodingConfig.TxConfig).
+		WithCodec(encodingConfig.Codec)
+
+	oldState := types.DefaultGenesisState()
+
+	newState, err := v046.MigrateJSON(*oldState)
+	require.NoError(t, err)
+
+	bz, err := clientCtx.Codec.MarshalJSON(&newState)
+	require.NoError(t, err)
+
+	// Indent the JSON bz correctly.
+	var jsonObj map[string]interface{}
+	err = json.Unmarshal(bz, &jsonObj)
+	require.NoError(t, err)
+	indentedBz, err := json.MarshalIndent(jsonObj, "", "\t")
+	require.NoError(t, err)
+
+	// Make sure about new param MinCommissionRate.
+	expected := `{
+	"delegations": [],
+	"exported": false,
+	"last_total_power": "0",
+	"last_validator_powers": [],
+	"params": {
+		"bond_denom": "stake",
+		"historical_entries": 10000,
+		"max_entries": 7,
+		"max_validators": 100,
+		"min_commission_rate": "0.000000000000000000",
+		"unbonding_time": "1814400s"
+	},
+	"redelegations": [],
+	"unbonding_delegations": [],
+	"validators": []
+}`
+
+	require.Equal(t, expected, string(indentedBz))
+}
diff --git a/x/staking/migrations/v046/keys.go b/x/staking/migrations/v046/keys.go
new file mode 100644
index 000000000000..f937f1593058
--- /dev/null
+++ b/x/staking/migrations/v046/keys.go
@@ -0,0 +1,6 @@
+package v046
+
+const (
+	// ModuleName is the name of the module
+	ModuleName = "staking"
+)